Silver prices climbed above $33.10 per ounce on Monday, snapping a three-day losing streak, as safe-haven demand increased amid geopolitical tensions and economic uncertainty in the US.
Investors closely monitored US-led efforts to end the Russia-Ukraine war, while fighting in the Middle East escalated following Israeli airstrikes on a Gaza hospital on Sunday, which killed five people.
Silver also gained support from a weaker US dollar, as concerns grew that President Donald Trump's tariffs could slow economic growth. This, in turn, might push the Federal Reserve to cut interest rates further, boosting demand for precious metals.
Meanwhile, investors assessed the economic outlook in China, where Premier Li Qiang urged countries to open markets to counter global instability at the China Development Forum in Beijing on Sunday.
Source: Trading Economics
