FX.co ★ Silver Prices Climb on Safe-Haven Demand

Silver prices experienced a notable increase of over 1%, nearing the $33 per ounce mark on Thursday. This uptick offset the previous session's losses, as investors gravitated toward safe-haven assets amid ongoing economic and trade uncertainties. The recovery was spurred by the Federal Reserve's announcement on Wednesday to maintain steady interest rates, in line with expectations. Federal Reserve Chair Jerome Powell took a cautious stance, emphasizing the escalating risks to inflation and employment. He also dismissed the potential for a proactive rate reduction to counteract possible economic repercussions from new tariffs. On the trade scene, President Donald Trump revealed on Truth Social his plans for a Thursday press conference to announce a deal with a significant nation, speculated to be the United Kingdom. Concurrently, he affirmed that he would not rescind tariffs on China as a prerequisite for commencing trade discussions, ahead of the U.S.-China negotiations set to take place in Switzerland this weekend.