UBS tells investors to buy silver amid Trump tariff turmoil

UBS is urging investors to buy silver amid the ongoing tariff turmoil, forecasting a significant price increase for the precious metal in the coming months despite recent declines.Silver is currently trading at $30.25 per ounce.“We think silver prices below $30/oz are unlikely to last over the next 3–6 months,” the Swiss bank said in a note to clients.Gold price rallies over 3% as trade war heats upUBS reaffirmed its forecast that silver could trade as high as $38 per ounce in the second half of this year.The bank attributes the recent dip in silver prices to a broader “risk-off” sentiment in global markets, driven largely by U.S. President Donald Trump’s trade policies, which have triggered a significant stock market correction.However, UBS expects the decline in silver prices to be temporary and “unlikely to be of a similar magnitude” to the drop seen during the Covid-19 pandemic.The bank also noted that continued investor demand and the prospect of further interest rate cuts by the U.S. Federal Reserve are positive indicators that should support higher silver prices in the coming months.Additionally, a weaker U.S. dollar is expected to lower the opportunity cost of holding silver, further boosting its appeal.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com