XAG/USD HOLDS ABOVE $29.50 AMID TARIFF UNCERTAINTY
XAG/USD HOLDS ABOVE $29.50 AMID TARIFF UNCERTAINTY
Silver (XAG/USD) has rebounded to approximately $29.85 during the Asian trading hours on Wednesday, recovering some of its previous losses.
The recent correction in silver prices is viewed by analysts as a potential setup for a strong rebound, driven by escalating trade tensions following President Donald Trump's announcement of a 104% tariff on Chinese imports, effective at midnight.
Growing concerns about a potential global recession, exacerbated by aggressive tariff policies, are contributing to increased demand for safe-haven assets like silver.
The imposition of significant tariffs has led to heightened market volatility, influencing investor sentiment and commodity prices, including silver.
While tariffs primarily target imports, potential disruptions in global supply chains could affect silver availability, adding upward pressure to prices.
Given the current geopolitical climate and economic uncertainties, silver is expected to maintain its position above $29.50, with potential for further gains if trade tensions persist and recession fears continue to influence market dynamics.
