Silver prices jumped 5% in early trading on Monday, hitting a record high as gold prices surged and liquidity pressures intensified on market sentiment.
Silver futures in New York reached $49.6300 per ounce, while spot gold rose 2.7% to $51.6600.
Goldman Sachs Group Inc. analysts noted that silver prices are likely to continue rising in the medium term, benefiting from the same private investment flows that are boosting gold amid interest rate cuts by the Federal Reserve.
The analysts added: "However, in the near term, we see greater volatility and downside risks than gold, reflecting the smaller and less liquid silver market."
