Silver Nears Record High, Fueled by Fed and Geopolitical Concerns
Silver prices held steady above US$85 per ounce on Tuesday, nearing a record high due to increased demand as a safe-haven asset. Investors are seeking refuge amid global uncertainty, including concerns about US Federal Reserve policy and geopolitical tensions.
The threat of indictment against Fed Chairman Jerome Powell by US federal prosecutors has added to market concerns. Powell has been criticized for his comments to Congress regarding the Fed building renovation project, which has been seen as political pressure to influence interest rates. The Trump administration is said to be pressuring the Fed to cut interest rates, and Powell dismissed the threats as merely a political "pretext."
Beyond Fed concerns, global conditions are also affecting silver prices. Escalating protests in Iran raise the risk of US intervention, while President Trump's statement about the possible annexation of Greenland has added to geopolitical uncertainty. All of these factors are driving investors to seek precious metals as a safe haven.
US trade policy is also in the spotlight. Trump warned that any country doing business with Iran will face a 25% tariff on all transactions with the US. This move escalated global trade tensions and strengthened silver's appeal as a hedge against volatile market conditions. (az)
Source: Newsmaker.id
