Silver Steadies Near 14-Year High on US Data and Geopolitical Risks
Silver hovered around $41 per ounce on Thursday, holding close to 14-year highs as investors digested fresh US economic data that reinforced expectations for Federal Reserve rate cuts.
Weekly jobless claims jumped by 27,000 to 263,000, the highest since October 2021, while consumer prices rose 0.4% in August—double July’s pace and slightly above forecasts—lifting annual inflation to a seven-month high of 2.9%. The release followed Wednesday’s PPI report, which unexpectedly showed producer price declines.
At the same time, geopolitical tensions continued to underpin safe-haven demand for precious metals. US President Donald Trump urged the EU to impose tariffs on China and India to pressure Russia over the Ukraine conflict, while Poland reported intercepting Russian drones during a large-scale strike in western Ukraine.
On the industrial side, resilient demand from solar, electric vehicles and electronics has kept the physical silver market tight amid ongoing supply constraints.
Source : Trading Economics