Silver Nears 14-Year High
Silver prices held above $39 an ounce on Wednesday (July 23), near their highest level since 2011, as a weaker US dollar and falling Treasury yields continued to boost demand for the precious metal. Investors also reacted to the latest trade developments after US President Donald Trump announced a new trade agreement with Japan, which includes a 15% tariff on Japanese exports to the US.
Treasury Secretary Scott Bessent added that the current tariff truce with China is likely to be extended, with US and Chinese officials scheduled to meet in Stockholm next week to resume negotiations. Meanwhile, Trump again criticized Federal Reserve Chairman Jerome Powell, accusing him of keeping interest rates too high and stating that "he'll be out of office in eight months" — comments that added to market uncertainty surrounding US monetary policy.
Source: Trading Economics