Silver prices rose more than 1% to near $33 an ounce on Thursday (08/05), recovering losses from the previous session as investors sought refuge in safe-haven assets amid ongoing economic and trade uncertainty. The recovery followed the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected. However, Chairman Jerome Powell was cautious, highlighting rising risks to inflation and employment, and downplaying the possibility of a preemptive rate cut to mitigate the potential economic impact of new tariffs. On the trade front, President Donald Trump announced via Truth Social that he would hold a press conference on Thursday to unveil a deal with a "major" country, reportedly the United Kingdom. Meanwhile, he reiterated that he would not lift tariffs on China as a precondition for starting trade talks, ahead of U.S.-China negotiations scheduled for later this week in Switzerland. (Newsmaker23)
Source: Trading Economics
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