Investors flock to silver for safety amid ongoing tariff disputes

Silver prices are hovering near weekly highs on Wednesday morning, holding steady after a series of gains driven by escalating geopolitical tensions and a growing appetite for safe-haven assets. US trade and monetary policies are also sending mixed signals to the metals markets.

Trump has partially eased tariff restrictions by exempting certain technology goods from new duties and is considering suspending import taxes on autos. Still, the United States administration is increasing scrutiny in other areas, such as semiconductors, pharmaceuticals, and critical minerals. This move adds uncertainty and poses a threat of further escalation, particularly in relation to China. 

Market participants are now closely watching US retail sales data for March and the upcoming speech by Federal Reserve Chairman Jerome Powell. Silver and other safe-haven assets could benefit from these developments as they may clarify the future direction of the US monetary stance, TradingEconomics reports.