Silver Climbs on Renewed Safe-Haven Demand
Silver prices climbed above $32.50 per ounce on Wednesday, reaching a near two-week high as escalating trade tensions and broad economic uncertainty drove renewed safe-haven demand.
The latest boost came after U.S. President Donald Trump ordered a probe into potential new tariffs on all critical mineral imports—many of which are sourced from China—further fueling fears of a deepening trade war. Beijing continued to resist what it called Trump’s “trade bullying,” as the country braces for the broader fallout of existing and prospective U.S. tariffs.
Silver also benefited from a general weakening of the US dollar amid mounting concerns about a tariff-induced economic slowdown. Moreover, market participants are closely watching for any monetary policy signals from Federal Reserve Chair Jerome Powell, whose remarks later in the day could influence expectations around interest rates and inflation.
Source : Trading Economics