Silver Rebounds Amid Trade Turmoil and Global Tensions
Silver prices rose above $49 per ounce on Thursday, recovering some of the losses from earlier this week as rising geopolitical concerns and global trade tensions prompted investors to turn to safe-haven assets. Market sentiment strengthened after reports that the US was considering restricting software exports to China, although President Donald Trump insisted his meeting with President Xi Jinping remains scheduled. Meanwhile, Washington also imposed sanctions on Russian oil giants Rosneft and Lukoil to pressure Moscow to end its war in Ukraine.
Silver's rise came even though the precious metal remains about 10% below its record high last week due to investor profit-taking. However, the long-term outlook remains strong thanks to rising industrial demand, particularly from electric vehicles, solar energy, and data centers, as well as tighter supply in the physical markets in London and Shanghai. (az)
Source: Newsmaker.id
