Silver held steady above $32.20 an ounce on Friday, on track for its fifth weekly gain in six years. The precious metal was supported by a weaker dollar, as concerns over escalating global trade tensions eased. Both the U.S. and China have taken a more cautious stance on tariffs, with U.S. President Donald Trump and Chinese President Xi Jinping set to discuss trade developments, potentially reversing some of the existing restrictions.
Silver is also benefiting from expectations that the U.S. Federal Reserve will continue to cut interest rates this year, with markets anticipating two quarter-point cuts. On the supply side, the Silver Institute recently forecast a significant market deficit for a fifth straight year by 2025, driven by strong industrial demand and robust retail investment. These factors are expected to offset weaker consumption in silver jewelry and silverware. (Newsmaker23)
Source: Trading Economics
