Spot silver rose by over 8%, breaking the US$23 mark for the first time in nearly seven years
On July 22, US Eastern Time, spot silver rose in a straight line, rising more than 8%, breaking through the US$23 mark, the first time in nearly seven years. Industry insiders pointed out that expectations of low interest rates and more stimulus measures, rising debt levels, the new crown epidemic and its worries about global economic recovery, and tensions in international geopolitical relations have all prompted investors to continue to absorb gold and gold on dips. silver. In addition, as governments in various countries invest more in clean energy technologies to promote economic growth and mitigate climate change, the demand for silver used in solar panels will continue to grow. At the same time, silver mine production has shown a downward trend. Analysts at the Silver Research Institute said that global silver supply is expected to continue to decline this year, and mine output is expected to fall by 7% in 2020. In 2019, global mine production fell by 1.3%. (Shi Sining, CCTV reporter)