The Silver price ( XAG/USD) attracts some buyers to around $38.85, the highest since 2011 during the Asian trading hours on Monday. The white metal edges higher as US President Donald Trump's shock trade tariff on copper spurred a rush to import silver into the world's largest economy.
Last week, Trump said that the 50% tariff on copper imports will take effect on August 1. The decision was made after Trump received a national security assessment. It's worth noting that Silver and copper are both used in industrial applications, especially in electronics and clean energy. If copper becomes more expensive due to tariffs, manufacturers may look for cheaper alternatives like the white metal.
Furthermore, robust industrial demand, driven by green technology applications like solar panels and EVs, combined with supply shortages might contribute to Silver's upside. According to the industry group the Silver Institute, demand for silver is expected to remain strong in the coming years, with the market facing another year in deficit.
Source: FXStreet
Silver price (XAG/USD) holds mild losses after two days of gains, trading around $38.20 per troy ounce during the Asian hours on Friday. The non-interest-bearing Silver attracts some sellers as the up...
Silver (XAG/USD) is edging lower on Thursday, trading around $37.57 after logging a modest gain of nearly 0.56% on Wednesday. The metal remains elevated after marking a 14-year high of $39.13 earlier ...
Silver price (XAG/USD) trades in a tight range around $38 during the Asian trading session on Wednesday. The white metal consolidates as investors await more cues regarding trade talks between the Uni...
Silver price (XAG/USD) gains ground after registering losses in the previous two sessions, trading around $37.80 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver gr...
Silver prices (XAG/USD) recovered from their latest decline from the previous session, rebounding toward a 14-year high of $39.13, reached on Monday (July 15th), and traded around $38.40 per troy ounc...
The EUYR/USD finished Friday's session with gains of over 0.26% amid a weaker US Dollar, following dovish comments by Fed Governor Christopher Waller, which weighed on US Treasury yields. Still, an improvement in Consumer Sentiment capped the...
The U.S. dollar slipped against the euro on Friday but held on to weekly gains, as investors weighed expected Federal Reserve policy amid signs that tariffs may be starting to increase some inflation pressures and as U.S. President Donald Trump...
Former U.S. President Donald Trump threatened to impose tariffs on members of the BRICS group of nations on Friday, warning the alliance would quickly collapse if it ever becomes a significant economic force. "When I heard about this group from...
Unemployment claims fell 7,000 to 221,000 in the week ending July 12, compared with the median estimate of 233,000, according to Labor Department...
The United States Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on graphite imported from China after concluding the...
US stocks advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President...
Federal Reserve Governor Adriana Kugler said the US central bank should keep interest rates steady "for some time," citing accelerating inflation as...