Silver prices are still rising with the fall in the dollar and the fear of the trade war

Silver prices rose to their highest level in a week with the fear of the outbreak of a global trade war, strengthening demand for safe assets in light of the fall in the dollar. On the other hand, gold prices have maintained their profits over the past two days. Silver rose 1.2% during the trading to score profits for the third day in a row. At the same time, the dollar index dropped to the lowest level in about three months, as the euro rises amid Germany’s plans to increase spending and reduce loan restrictions. The weakness of the dollar makes precious metals more attractive to buyers in other currencies. Traders are monitoring the impact of customs duties on the global economy carefully, especially after US President Donald Trump on Tuesday warned about the possibility of ‘economic turmoil’ as a result of imposing fees, in his defense of its policy aimed at reforming the economy of America. Any increase in inflation or slowdown in global growth can increase the attraction of gold and silver as a value of value. The United States imposed 25% of customs duties on most goods imported from Canada and Mexico, as well as the fees imposed by China to reach 20%. However, the US Minister of Trade Haward Lottenic has hinted that a settlement can be reached on the fees, and in an interview with ‘Fox Business’ pointed out that there is a ‘potential path’ to reduce some of these drawings. The demand for silver, unlike gold, comes a large part of the demand for silver from industrial uses. The demand shown in the market has exceeded several years, and although large quantities of inventory are available on earth, a number of analysts indicated the possibility of the scarcity of the direct market supplies in London, the most important trading center. In recent months, about 100 million ounces of silver has flowed to US stock exchanges, where the fear of customs has fueled a profitable price allowance for traders who have managed to load the metal on the United States. In this context, Daniel Ghali, the main strategy of commodities in TD securities, warned that this ‘massive flow’ of silver could push the immediate market in London to an inferior critical level needed to maintain the market balance. By 11:41 in London, the direct silver price rose 0.9% to $ 3262 per gram, while the “Bloomberg” index for the immediate dollar fell 0.4%. On the other hand, neither gold nor Phraladium did not change, while platinum rose.