Spot Silver Surges 4% to Past $100/Oz on Mounting Geopolitical Headlines

The price for silver rose past $100 per ounce in trading this morning, with President Trump’s comments on Iran being the latest in a volley of geopolitical headlines seen this week.

Lifting precious metals are fears surrounding conflicts in Iran, Ukraine and Trump’s pursuit of Greenland on the world stage in Davos this week.

“The shakeup of the geopolitical order and renewed attacks on the Federal Reserve are spurring a flight to safety,” said Neil Welsh, head of metals at Britannia Global Markets, in a note published Friday.

For silver, the $100 mark is a so-called “psychological price level,” analysts say. Comments from Trump stating that a U.S. “armada” is heading toward Iran has investors flocking to silver, as well as gold and base metals like copper.

Gold is trading up 0.8% this morning, and is less than $50/oz away from crossing over $5,000/oz for the first time in its history.