Silver attempts to rebound
Silver climbed above $49 per ounce on Thursday, recouping some losses from earlier in the week as mounting global trade and geopolitical tensions boosted demand for safe-haven assets.
Reports indicated that the US is weighing export restrictions on China involving US-made software, though President Donald Trump later confirmed plans to meet with Chinese President Xi Jinping.
At the same time, the Trump administration blacklisted Russia’s top oil producers, Rosneft and Lukoil, in an effort to push Moscow toward talks to end the Ukraine war.
Despite the rebound, silver remains nearly 10% below the record highs reached last week amid broad profit-taking.
The recent surge was fueled by strong safe-haven inflows and optimism about silver’s long-term industrial demand in electric vehicles, data centers, and solar farms, alongside tightening supplies in London and Shanghai vaults.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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