Silver prices held steady above $30.10 per ounce on Wednesday, staying close to their highest levels in over three weeks, despite the pressure of a stronger US dollar and rising Treasury yields.
These price movements followed strong US economic data, which dampened expectations of further interest rate cuts by the Federal Reserve. Silver and other safe-haven assets also saw support from growing uncertainty ahead of US President-elect Donald Trump’s inauguration on January 20, with confusion surrounding his tariff policies adding to market apprehension.
Additionally, silver benefited from market optimism that China, the world’s largest consumer of metals, will fulfill its commitments to increase monetary and fiscal stimulus to bolster economic growth.
Silver prices stay resilient amid uncertainty
This combination of factors has helped keep silver prices resilient, as investors continue to seek assets perceived as safe during economic and geopolitical uncertainty.
