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A weaker US dollar is contributing to silver’s upside momentum, with the dollar index down 0.66% from a recent high. Since silver is priced in dollars, a declining dollar makes it more attractive to foreign investors.
Additionally, rising trade tensions are supporting safe-haven demand. President Trump’s latest tariff threats on Chinese goods, which could push total tariffs to 20%, are fueling concerns over economic instability. Similar to gold, silver is benefiting from investors hedging against potential financial market turbulence.
Fed Rate Expectations Could Influence Silver Prices
Silver, like gold, tends to react to changes in US interest rate expectations. Recent inflation data suggests the Federal Reserve may not be in a rush to cut rates, which pressured gold in the last session. If higher rates persist, non-yielding assets like silver could face some resistance.
However, if upcoming US payroll data signals economic weakness, it could revive expectations for Fed rate cuts, potentially driving silver prices higher.
Silver Price Forecast: Bulls Aim for Key Resistance Levels
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