FX.co ★ Silver Holds Gains

Silver held above $89 per ounce on Thursday, trading near a one-month high as uncertainty over US tariffs and ongoing geopolitical tensions bolstered demand for safe-haven assets. Additional support came from a weaker US dollar, pressured by policy uncertainty in Washington that has undermined investor confidence in the reserve currency. On Wednesday, US Trade Representative Jamieson Greer signaled that tariff rates on certain countries could be raised to 15% or higher from the recently imposed 10%, though he did not provide further specifics. In his State of the Union address, President Donald Trump offered only subdued remarks on tariffs, but indicated no plans to shift course despite the Supreme Court’s decision to strike down his broad reciprocal tariff measures. Geopolitical factors also weighed on sentiment, with investors remaining cautious ahead of the latest round of US–Iran nuclear talks scheduled to take place in Geneva later today.