Silver prices experienced significant volatility recently, reaching new milestones before sharply declining, while international law faces challenges amid ongoing global conflicts. The price of silver had surged to over $100 per ounce, a substantial increase from $30 per ounce a year prior, before a market correction brought prices down, according to CBS News and BBC Business reports.
The surge in silver prices prompted increased interest in physical silver as an investment, but experts cautioned potential sellers about the risks of being "ripped off" due to the volatile nature of commodities trading, BBC Business reported. Brian Leonard, who waited in line at Hatton Garden Metals in London to sell a silver plate, exemplified the trend of individuals capitalizing on the high prices before the market slump.
The fall in precious metal prices occurred alongside a rise in the FTSE 100, which hit a record high, closing up 1.2 at 10,341.56 points, according to BBC Business. The drop in gold and silver prices was partly attributed to the nomination of Kevin Warsh to lead the US Federal Reserve, the report stated. Spot gold recorded its sharpest one-day drop since 1983, falling more than 9%, while silver plunged 27% before a slight recovery.
In other news, a study by the Geneva Academy of International Humanitarian Law and Human Rights found that international law intended to limit the effects of war is at a breaking point, The Guardian reported. The study, which covered 23 armed conflicts over the last 18 months, revealed that more than 100,000 civilians had been killed, and acts of torture and rape were committed with near impunity.
Separately, The New York Times highlighted a 1987 law review article by Akhil Reed Amar, a Yale Law School professor, as a potential tool for holding Immigration and Customs Enforcement (ICE) accountable for constitutional violations. Amar stated that the article, titled "Of Sovereignty and Federalism," had been influential, having been cited in seven Supreme Court opinions. The article suggests that state legislatures can authorize lawsuits against federal officials for constitutional violations.
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