Recent developments in the precious metals market have captured investors' attention, with silver and platinum showing particularly strong performance. Silver prices have continued their upward trajectory, breaking through $36 per ounce for the first time since 2012, while platinum has surged to $1,154.73, its highest level in over two years.

According to Nicky Shiels, metals strategist at Geneva-based MKS PAMP SA, silver's rally is being driven by both technical momentum and fundamental improvements. "We're seeing not just speculative interest but genuine demand growth, particularly from India where silver remains popular both as an investment and for traditional jewelry during weddings and festivals," Shiels noted.

In China, platinum demand is recovering as industrial activity picks up. The metal's use in catalytic converters for vehicles and high-end manufacturing equipment has boosted its market appeal. Despite their strong performance—with silver up 19% and platinum 13% over the past 12 months—both metals still trail gold's 40% gain during the same period.

Analysts highlight that silver's extensive industrial applications, especially in solar panel production, position it well for continued growth as renewable energy adoption accelerates globally. Similarly, platinum's role in clean energy technologies supports its long-term demand outlook. Both markets currently face supply constraints that could further influence prices.

Market observers suggest that maintaining prices above $35 per ounce will be crucial for silver's continued momentum. "If silver can consolidate at these levels, it may attract more retail investors," said David Morrison, a market analyst. Recent data shows platinum-backed ETF holdings have grown over 3% since mid-May, while silver ETF inflows have increased nearly 8% since February, signaling renewed investor confidence.

The broader precious metals sector has benefited from shifting market sentiment, with palladium also seeing increased trading activity. Investors are now awaiting the upcoming U.S. non-farm payrolls report, which could influence expectations for Federal Reserve interest rate policy—a key factor for non-yielding assets like gold and silver.

While it remains uncertain whether silver can challenge its 2011 peak of $50 per ounce, technical indicators suggest the current uptrend may have further room to run. Precious metals often serve as safe-haven assets during periods of market volatility, inflation concerns, or geopolitical tensions—factors that have contributed to the recent price movements alongside improving industrial demand.

As the global transition toward green energy continues, both silver and platinum appear well-positioned to benefit from their critical roles in sustainable technologies. For investors, these developments may present compelling opportunities in the evolving precious metals landscape.