Silver notches another record high as Trump’s tariff threat fuels risk-off mood

Silver (XAG/USD) extends its rally, reaching a record high near $94.15 as safe-haven flows surge due to heightened trade and geopolitical tensions. The recent comments from former President Trump regarding potential tariff hikes have fueled a risk-off sentiment in the markets, pushing investors towards precious metals. The increase in demand for silver highlights its status as a reliable investment amidst uncertainty. With the price hitting historic levels, attention is drawn to the support level around $93.00. A drop below this level might be viewed as a temporary correction rather than a trend reversal. Market sentiment is currently leaning towards continued upward momentum in silver prices, as geopolitical uncertainties persist. In this context, investors are urged to stay vigilant and assess the potential impacts of tariffs on corporate profits, reflecting the ongoing demand for safe-haven assets.