Silver Set for Fifth Weekly Gain in Six
Silver held steady above $32.20 per ounce on Friday, on track to post its fifth weekly gain in six. The precious metal was supported by a weaker dollar, as concerns over escalating global trade tensions eased.
Both the US and China have taken a more cautious stance on tariffs, with US President Donald Trump and Chinese President Xi Jinping set to discuss trade developments, potentially reversing some of the existing restrictions. Silver also benefitted from expectations that the US Federal Reserve will continue cutting interest rates this year, with markets anticipating two quarter-point reductions.
On the supply side, the Silver Institute recently forecast a fifth consecutive year of significant market deficits in 2025, driven by strong industrial demand and robust retail investment. These factors are expected to offset weaker consumption in jewelry and silverware.
Source : Trading Economics