FX.co ★ Silver Rallies to Fresh Record High

Silver surged over 4% on Monday, reaching a new record high of more than $83 per ounce. This ascent was fueled by speculation on US interest rate reductions and heightened geopolitical tensions, which increased interest in safe-haven metals. The ongoing nationwide protests in Iran, entering their third week, and reportedly causing numerous fatalities, were under close observation by investors. US President Donald Trump has issued a caution to Iran’s leadership against using force on protestors, hinting at potential action from Washington should Iran resort to violence, while Iranian authorities have warned against any intervention by the US or Israel. Meanwhile, markets are assessing the likelihood of further rate cuts from the US Federal Reserve. This follows the latest monthly employment figures released on Friday, which indicated job growth did not meet expectations. While traders anticipate two Fed rate cuts within the year, it is generally expected that the central bank will maintain its current policy stance later this month.