Silver prices rose above $31 per ounce on Thursday, extending gains for a second session as commodities rebounded after Trump's reversal on his reciprocal tariff policy. Trump dropped new tariff rates on imports from most US trade partners to 10% for 90 days to allow for trade negotiations. However, top consumer China remains subject to a steep 125% tariff amid continued tit-for-tat escalations between Washington and Beijing—maintaining a level of geopolitical and economic uncertainty that continues to support safe-haven demand. Meanwhile, minutes from the latest FOMC meeting revealed that most officials expressed concern over the risk of stagflation. They also flagged the potential consequences of Trump's trade policies on the Fed's dual mandate of price stability and maximum employment. All eyes now turn to the US inflation data which is expected to offer further insight into price pressures and guide expectations for future Fed policy moves.

Source: Trading Economi