FX.co ★ Silver Stays Close to Record Highs

Silver experienced a slight dip, trading just under $93.5 per ounce on Tuesday, yet it stayed near its historical highs. This was amid growing US-Europe tensions following President Donald Trump's provocative proposal to purchase Greenland. Trump's threats to impose new tariffs on eight opposing European nations have bolstered the appeal of safe-haven precious metals like silver. In response, European leaders are considering potential countermeasures. Analysts have cautioned that approximately $10 trillion of US bonds and stocks, partially held by European public sector funds, could be leveraged in this evolving trade confrontation. Recently, silver has exhibited increased market volatility after the US administration chose not to impose tariffs on crucial minerals, including silver. Recognized for its essential applications in green energy technologies and electronics, silver was categorized under the US critical minerals list last year.