Kathmandu. The upward trend of silver shows no signs of stopping. The price of silver has increased by 8 per cent today. Silver has crossed $ 82 per ounce for the first time.
At the same time, the market capitalization of silver has reached $ 4.85 trillion. Nvidia, the world’s most valuable company, has a market capitalization of $4.638 trillion. In this way, silver has overtaken Nvidia to become the second most valuable asset in the world. Gold is at the top with a market capitalization of around $30 trillion.
This year, the price of silver has increased by 185 percent, which is the best performance since 1979. There are many reasons why the price of silver has increased. However, its industrial use has increased recently. Silver is being used in three fast-growing industries: solar, electric vehicles and semiconductors. This is increasing the demand for silver but the supply is not increasing at the same pace.
There are many other reasons for the rise in the price of silver. For example, nowadays people are making jewelry by mixing gold and silver.
In addition, the reduction in interest rates in the US has also increased the demand for the precious metal. In the US, when interest rates drop, the dollar becomes cheaper. Gold and silver are traded in dollars. Therefore, they are cheaper than other currencies. This increases the demand for gold and silver.
