Silver rises by more than 3%, reaching 90 dollars
Istanbul, February 25 (Hibya) - Silver rose by more than 3% to 90 dollars per ounce as demand for safe-haven assets increased due to customs tariffs, geopolitical and broader economic uncertainties.
The United States began temporarily imposing a global customs tariff of 10% on Tuesday. It is reported that the White House plans to increase this tariff to 15% after the Supreme Court's decision last week to cancel the extensive reciprocal customs tariffs of President Donald Trump.
Geopolitical concerns also supported prices, and investors focused on the third round of U.S.-Iran nuclear talks scheduled for Thursday in Geneva.
However, gains in precious metals may be limited due to a reduction in expectations for short-term monetary expansion by the Federal Reserve.
Federal Reserve official Susan Collins stated that it might be appropriate to keep interest rates stable for a while due to improvements in labor market conditions and continuing inflation risks.
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