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Silver rose 2% to trade above $86 per ounce on Monday, advancing for a fourth consecutive session as renewed tariff tensions bolstered demand for safe-haven assets. US President Donald Trump increased a global levy from 10% to 15% after the US Supreme Court rejected his proposed “reciprocal” tariffs.
In a sign of escalating trade frictions, Europe’s trade chief said on Sunday that he would seek to suspend ratification of a trade agreement with the US, while India postponed talks intended to finalize an interim deal with Washington. Even so, US Trade Representative Jamieson Greer indicated that existing trade arrangements with major partners—including China, the EU, Japan and South Korea—would remain in force.
Markets were also weighed down by mounting concerns that the Trump administration could pursue military action against Iran amid stalled nuclear talks, although diplomats are scheduled to reconvene in Geneva on Thursday. Silver and other metals may experience higher trading volumes this week as Chinese markets reopen after an extended holiday.
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