Silver prices followed gold's gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal's safe haven status and close correlation with gold have supported its gains.
Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver's appeal as a store of value. However, like gold, silver's rally has faced resistance from a stronger U.S. dollar.
The People's Bank of China's gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump's policies, this has strengthened gold and silver as preferred hedges against economic and geopolitical uncertainty.
Source: Newsmaker.id
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