XAG/USD marks fresh 13-year highs near $36.50
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Silver price advances as safe-haven demand increases due to fears surrounding the global economic uncertainties. Citigroup expects that the Fed will implement 25 basis point rate cuts in September, October, and December. Trump Administration officials are set to meet with Chinese counterparts in London on Monday. Silver price (XAG/USD) extends its winning streak for the third successive session, and has marked a fresh 13-year high of $36.42 per troy ounce on Monday. The price of the grey metal rises due to rising safe-haven demand amid fears surrounding the global economic and trade uncertainties. The non-yielding assets, including Silver, possibly drew support after Citigroup released its forecasts on Monday, expecting the Fed to deliver a 25 basis point rate cut each in September, October, and December. The firm also expects the central bank to cut 25 basis points each in January and March 2026. However, the stronger-than-expected United States (US) labor market data for May, released on Friday, boosts the expectations of the Federal Reserve (Fed) keeping its benchmark interest rate unchanged at its next two monetary policy meetings. Investors adopt caution ahead of renewed US-China trade negotiations in London. US President Donald Trump had a one and a half hours phone call with Chinese President Xi Jinping on Thursday. Trump also said that the call resulted in a very positive conclusion for both countries. Trump administration officials, Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and Trade Representative Jamieson Greer, are scheduled to meet with their Chinese counterparts in London on Monday. The positive sentiment surrounding the potential trade talks between the world’s two largest economies supports the risk-sensitive assets and limits the upside of the safe-haven metals, including Silver. Silver receives support from solid industrial demand in solar energy applications. Silver Institute reported that the global…
Filed under: News - @ June 9, 2025 8:26 am