Silver prices have climbed to a near five-month high of $33.40 per troy ounce, continuing upward momentum for the third consecutive session.
The precious metal is benefiting from increased safe-haven demand amid escalating trade tensions following President Trump’s new steel and aluminum tariffs and his comments about the economy being in a “transition period.”
Additionally, February’s lower-than-expected U.S. inflation data has strengthened speculation about earlier Federal Reserve rate cuts, further boosting the non-interest-bearing metal as the U.S. dollar remains under pressure.