Silver prices surged above $30.70 per ounce on Friday, nearing six-week highs. The rally followed President Trump’s call for the Federal Reserve to lower interest rates, boosting the appeal of safe-haven metals. While the Fed is expected to keep rates steady next week, markets anticipate a rate cut in July, with another possible reduction later this year. A weaker US dollar, driven by Trump’s avoidance of aggressive tariffs, and ongoing supply concerns, especially in London vaults, have further supported silver. Strong industrial demand, particularly from manufacturing, adds to the bullish momentum.

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