Silver prices climbed back above $30.6 per ounce on Friday, rebounding from 11-week lows as growing geopolitical risks spurred safe-haven demand for the precious metal.
Russian President Vladimir Putin warned about a possible nuclear-capable ballistic missile strikes on Ukraine, following a series of large-scale Russian attacks on key Ukrainian energy infrastructure.
In the Middle East, tensions flared as Israel and Hezbollah exchanged accusations over violations of a ceasefire agreement that went into effect on Wednesday.
Additionally, silver prices received support from a weaker dollar and lower Treasury yields, driven by expectations that the US Federal Reserve will continue cutting interest rates. Concerns over US President-elect Donald Trump's proposed tariffs on China, Mexico, and Canada also eased, with traders awaiting more details on the plans.
Source: Trading Economics
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