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Market Update: Silver Holds Above $27.5
Silver traded above $27.5 an ounce since May the third week of May, supported by a weaker dollar, rising inflation expectations and safe-haven bids steaming from Covid-19 in Asia. Silver touched its highest level since February 2nd at $28.74 on May 18th and is up more than 70% in the last year on growing industrial demand as the economic recovery from the Covid-19 blow gathers pace. A global shift towards green technologies, such as solar panel production, lent further support for semi-precious metal. [/s2If]
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