Silver prices declined amid profit-taking and escalating tariff tensions, falling below $32.50 an ounce on Thursday. This retreat from two-week highs follows a recent rally driven by increased interest in safe-haven assets.
An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.
An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.
Silver is back in the spotlight after surging 40% over the past 12 months to above $34 an ounce. If the deficit and increased demand persist, the asset could reach the $50 mark or even higher next year, according to Peter Kraut, editor at Silver Stock Investor.
At the moment, silver prices are still struggling below the level of $34 per ounce. The rise in precious metal prices is hampered by President Donald Trump's ongoing escalation of uncertainty around his proposed global tariffs.
An increase of the indicator value may contribute to the rise in quotes of Silver.
Major mining companies, including India's Vedanta and China's Zijin Mining Group, have been granted exploration licenses in Saudi Arabia. The companies were awarded sites covering 4,788 square kilometers, which include the Jabal Sayid copper deposit, according to Bloomberg.
Citi commodity strategists warn that the silver market may be underestimating the tariffs risks while determining prices. Experts say more substantial than expected US import duties may be imposed on April 2.
Last year, central banks were the major gold buyers. But now the main driver has switched to dollar depreciation and risk-off sentiment, Daniel Ghali of TD Securities believes.
No change of the indicator value may reduce the volatility of the related markets.
A decrease of the indicator value may contribute to the rise in quotes of Silver, Gold and the fall in quotes of USD.
Silver is not just a precious metal, but also an important asset in the financial sector.
Silver is more than jewelry, it is an essential part of the global economy. Staying up-to-date on the latest silver news allows investors and traders to have a better understanding of how prices are changing so they can use this information to guide their investments and financial decisions.
