Silver Price Surges Above $30 Amid Global Trade Tensions
Silver Price Surges Above $30 Amid Global Trade Tensions
Silver prices (XAG/USD) have rebounded, trading around $30.05 during the early European session on Monday.
This surge is primarily attributed to heightened safe-haven demand amid escalating global trade tensions.
The intensification of trade disputes, particularly between the U.S. and China, has led to increased demand for precious metals like silver.
Both nations have announced retaliatory tariffs, contributing to global economic uncertainty.
While silver is traditionally viewed as a safe-haven asset, its significant industrial applications make it susceptible to economic fluctuations.
Concerns over a potential global recession have raised questions about future industrial demand for silver.
Gold has reached record highs amid tariff worries, bolstering investor interest in precious metals. Silver often follows gold's lead, benefiting from its safe-haven status.
Analysts suggest that silver may continue to experience volatility due to its dual role as both a precious and industrial metal.
The ongoing trade tensions and their economic implications are expected to influence silver's performance in the coming months.
