Silver Prices Dip Slightly but Maintain Strength
Silver prices slipped below $31 per ounce on Thursday but remained near six-week highs as global uncertainties supported safe-haven demand. Concerns were fueled by U.S. President Donald Trump’s threats of a 10% tariff on Chinese imports beginning February 1, following his earlier warning of 25% tariffs on Mexico and Canada. However, hopes persist that the administration may proceed cautiously with tariff implementation.

Silver also gained support from expectations of further Federal Reserve rate cuts, which could weaken the dollar and enhance demand for commodities. Additionally, supply concerns in London vaults and robust industrial demand, particularly from the manufacturing sector, continue to bolster silver’s bullish outlook.

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