FX.co ★ Silver Rises on Tariff Fears, Nears 13-Year High

On Monday, silver prices surged past $34.30 per ounce, nearing a 13-year peak. This rise is attributed to mounting concerns about the intensifying global trade conflict and its potential economic repercussions, leading to increased demand for the safe-haven asset of precious metals. President Donald Trump, over the weekend, reiterated his commitment to implementing reciprocal tariffs on all nations, reportedly urging his advisors to take a more assertive approach to trade policies. Such strategies are feared by markets to potentially provoke retaliatory actions from key trading partners, ignite inflation, and dampen economic growth. Furthermore, San Francisco Federal Reserve President Mary Daly remarked that the inflation data released on Friday had diminished her confidence in the previous projection that two interest rate cuts would be a reasonable expectation this year.