Silver achieves milestone $39.10 level unseen since 2011 amid geopolitical tensions
New tariff policies from Washington trigger safe-haven demand for precious metals
Market volatility increases as political uncertainty surrounds Federal Reserve leadership
The meme coin price prediction todaysilver market continues demonstrating remarkable strength this Monday, with XAG/USD reaching $39.00 per troy ounce during European trading hours. This represents the metal's most impressive performance in nearly fourteen years, with the current rally now entering its third consecutive day of gains.
Recent developments in international trade policy appear to be driving this upward movement. The White House announced significant changes to import duties over the weekend, implementing a 30% tariff on goods originating from the European Union and Mexico. These measures, scheduled to take effect August 1, have created waves across global markets.
European officials responded by temporarily postponing retaliatory actions until early August, indicating potential negotiations might occur. Multiple reports confirm discussions are underway between affected nations including Canada and Japan regarding coordinated responses to these trade policy shifts.
Market participants remain cautious as they await crucial inflation data from the United States later this week. This economic indicator could provide valuable insights into how these new trade measures might influence broader economic conditions. Additional uncertainty stems from recent comments by White House economic advisor Kevin Hassett regarding potential changes to Federal Reserve leadership.
While industrial demand factors typically influence silver's valuation, recent data shows China's trade surplus narrowing in June. As a major consumer of industrial silver for manufacturing electronics, renewable energy components, and automotive applications, shifts in Chinese economic indicators warrant close monitoring by market observers.
