Silver Prices Rise as Dollar Weakens
Silver prices rose above $32.50 per ounce on Monday, recovering some of the losses from the previous session as the dollar came under pressure due to a deteriorating economic outlook in the US and a stronger euro.
Ongoing trade and geopolitical uncertainties continued to fuel safe-haven demand for the precious metal.
Last week, US President Donald Trump’s threat to impose tariffs on key sectors, including cars, semiconductors, pharmaceuticals, and lumber, keeping markets on edge.
On Friday, Trump also confirmed that Russia had indeed invaded Ukraine, while announcing that Kyiv would soon sign a minerals agreement with the US as part of efforts to resolve the conflict.
Meanwhile, in Germany, the conservative Christian Democratic Union won the general election, with leader Friedrich Merz expected to form a coalition government focused on fiscal reform.
Source: Trading Economics