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Trade tensions lift gold and silver: safe-haven flows explained Renewed trade frictions are reviving safe-haven flows, lifting interest in gold and silver as portfolio hedges against policy uncertainty. Investors typically rotate toward highly liquid, non-default assets when tariff risks and retaliatory measures threaten growth and earnings visibility. Gold’s appeal stems from its low correlation to risk assets and sensitivity to real yields, while silver often amplifies the move due to higher volatility. Silver’s industrial linkages can add cyclical torque in risk-on rebounds, but risk-off episodes usually see it shadow gold’s direction with larger swings. Why it matters: dollar, Fed expectations, central-bank purchases According to Goldman Sachs, the latest strength looks risk-driven rather than a broad commodity supercycle, with safe-haven demand and official-sector buying key supports. This framing underscores that policy and currency risks, not generalized scarcity, are in focus. As reported by CNBC, a softer U.S. dollar and expectations that the U.S. federal reserve could ease policy have reinforced gold’s role as a non-yielding store of value. The same dynamic tends to lower the opportunity cost of holding bullion relative to interest-bearing assets. Market strategists also highlight that trade-policy uncertainty can transmit through equity volatility and currency moves, intensifying the bid for havens. “Escalating trade tensions are pushing capital toward resilient assets, with dollar softness and equity swings reinforcing gold’s demand,” said Fawad Razaqzada, Market Analyst at StoneX. Based on coverage by Fortune, several emerging-market central banks are preparing to expand gold reserves as a strategic buffer against protectionism and tariff shocks. Reserve diversification can cushion external vulnerabilities and, at the margin, support bullion demand through the cycle. BingX: a trusted exchange delivering real advantages for traders at every level. In recent trading, silver hit $53.55 an ounce intraday in London, about $3 above its prior 1980 record, as reported…

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Filed under: News - @ February 23, 2026 1:24 am