The worth of silver hit the best degree since 2011, reaching $39 per ounce on Monday at 10:20 a.m. GMT, amid rising commerce tensions, notably between the European Union and the U.S., as markets await how Brussels would reply to a contemporary 30% tariff menace.
The worth of silver gained 1.73% day-over-day on Monday, nevertheless it additionally gained greater than 8% weekly.
At the start of the yr, its worth was round $29.
Meanwhile, the value of gold additionally rose by 0.5% each day on Monday to achieve $3,372.90 – additionally a three-week peak.
On Saturday, U.S. President Donald Trump introduced that Washington will impose 30% tariffs on the EU and Mexico beginning Aug. 1.
The EU commerce chief warned on Monday that “uncertainty” attributable to U.S. tariffs can’t persist, signaling “proportioned countermeasures” towards Washington.
“The current uncertainty caused by unjustified tariffs cannot persist indefinitely, and therefore we must prepare for all outcomes, including, if necessary, well-considered proportioned countermeasures to restore the balance in our transatlantic relationship,” Maros Sefcovic informed reporters throughout a doorstep assertion forward of the Foreign Affairs Council on commerce.
Source: www.dailysabah.com