FX.co ★ Silver Holds Near 13-Year Highs

Silver prices remained steady around $36 per ounce on Friday, reaching their highest levels since February 2012, as mixed US economic data and a cautious Federal Reserve bolstered the appeal of safe-haven assets. The likelihood of a Fed rate cut in September has increased following a series of underwhelming economic indicators. Recent reports have highlighted a rise in jobless claims, sluggish private employment growth, and an unexpected dip in services activity—indicating potential weakness in the labor market. Investors are now focusing on the upcoming nonfarm payrolls report for a clearer understanding of the economic landscape. In terms of international relations, a conversation between US President Donald Trump and Chinese President Xi Jinping provided some relief as both nations agreed to revisit trade talks. Nonetheless, the lack of substantial progress and President Trump's decision to raise steel and aluminum tariffs to 50% this week have heightened overall market concerns.