Silver prices held steady around $32.4 per ounce on Tuesday, remaining in a sideways trading range for the past two weeks as global trade uncertainties continued to drive safe-haven demand for precious metals. US President Donald Trump recently announced plans to impose reciprocal tariffs on countries taxing US imports, raising worries over a wider trade war. Meanwhile, investors kept an eye on US-led efforts to resolve the war in Ukraine, which could reduce demand for safe-haven assets like silver. Last week, silver reached a three-month high as strong industrial demand, particularly from the electrification and manufacturing sectors, supported prices. Recent data revealed that China added 357 gigawatts of solar and wind power in 2024, a key driver of industrial silver usage.
Source: Trading Economi
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