Silver traded around $40.7 per ounce on Wednesday, lingering at its strongest level since 2011 as fiscal strains, renewed trade tensions and ongoing geopolitical risks lifted safe-haven demand.
Support also came from expectations of a US Federal Reserve rate cut this month, with markets pricing a 92% chance of a 25 basis point move.
Geopolitical nerves heightened after President Xi Jinping warned the world faced a choice of "peace or war" and "dialogue or confrontation" during a military parade, while US President Donald Trump alleged on social media that China was conspiring against the US.
On the industrial side, silver demand was underpinned by China's solar boom, with solar cell exports surging more than 70% in the first half of the year, led by strong shipments to India.
Source: Trading Economics
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