FX.co ★ Silver Holds Near 14-Year High on Safe-Haven Demand

Silver was trading near $40.7 per ounce on Wednesday, reaching its highest point since 2011. This rise was driven by fiscal challenges, renewed trade tensions, and persistent geopolitical risks, all contributing to increased demand for safe-haven assets. The anticipation of a potential interest rate cut by the US Federal Reserve this month further supported prices, with markets estimating a 92% likelihood of a 25 basis point reduction. Concerns escalated globally following remarks by President Xi Jinping during a military parade, where he highlighted the critical choice between "peace or war" and "dialogue or confrontation." Concurrently, US President Donald Trump accused China on social media of plotting against the United States. On the industrial front, silver demand was bolstered by China's booming solar industry, with solar cell exports soaring over 70% in the first half of the year, particularly driven by robust shipments to India.