FX.co ★ Silver Snaps Three-day Losing Streak

Silver prices surged past $33.10 per ounce on Monday, breaking a three-day downtrend, driven by an uptick in safe-haven demand amid heightened geopolitical tensions and economic uncertainties within the United States. Investors remained vigilant regarding US efforts to mediate the Russia-Ukraine conflict while hostilities intensified in the Middle East after Israeli airstrikes targeted a hospital in Gaza on Sunday, resulting in five casualties. Additionally, silver found support due to a weakening US dollar amid rising apprehensions that President Donald Trump's tariff policies could potentially dampen economic growth. This scenario may prompt the Federal Reserve to implement further interest rate cuts, thereby enhancing the allure of precious metals. At the same time, investors turned their attention to China's economic prospects, where Premier Li Qiang, speaking at the China Development Forum in Beijing on Sunday, called for countries to embrace open markets to mitigate global instability.