Silver prices held firm above $36.80 per ounce on Friday, approaching 13-year highs as renewed global trade tensions bolstered demand for safe-haven assets.
Investors remained on edge after President Donald Trump announced plans to begin sending letters outlining new trade tariffs or potential deadline extensions as early as Friday, fueling uncertainty in global markets.
Adding to market anxiety, the US House of Representatives passed Trump's sweeping tax cuts and spending bill, which now heads to the White House for his signature. The legislation is expected to widen the federal budget deficit by over $3 trillion, raising long-term fiscal concerns.
However, silver's upside was capped by a stronger-than-expected US jobs report for June, which eased recession fears and reduced pressure on the Federal Reserve to cut interest rates in the near term.
Source: Trading Economi
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