Spot Silver breached the $100/oz. threshold for the first time in history, settling just below a fresh record high, supported by persistent geopolitical tensions, a weaker US Dollar and broader economic uncertainty.
US President Donald Trump said a US naval contingent was heading toward Iran. According to reports, a US aircraft carrier and several destroyers are expected to arrive in the Middle East in the coming days.
Earlier in January, Trump warned Iran against killing protestors amid widespread demonstrations. Although his tone later softened, Trump’s latest remarks revived market concerns.
On the trade front, Trump said that he had secured permanent US access to Greenland in a deal with NATO, but details were not provided.
Trump’s planned tariffs on EU imports were also canceled. In response, the EU said threatened retaliatory measures would be suspended, while the bloc seeks clarity on Trump’s intentions.
On the data front, both headline and core US PCE increased in line with market consensus, implying that disinflation continues.
Investors are currently expecting at least two rate cuts by the Federal Reserve this year, starting as early as June.
The white metal gained 14.62% this week, marking its third consecutive weekly advance.
Silver’s rally has also been driven by a historic short squeeze, robust retail demand and China’s tightening export controls.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
