Silver jumps but pulls back slightly
Silver prices climbed above $90 per ounce in early U.S. trade, marking the first time in about three weeks that the metal has reached that level before easing back slightly later in the morning. This comes amid continued volatility in the precious metals complex following sharp moves in recent weeks. :contentReference[oaicite:0]{index=0}
Data from market pricing sources show silver futures reached a high around $91.18 before retreating, and broader pricing averages have reflected trading around the $89–91 range recently. :contentReference[oaicite:1]{index=1}
Gold also gains ground
Gold likewise edged higher, trading above $5,200 per ounce as investors reacted to renewed uncertainty in global markets. Like silver, gold had previously made significant gains earlier in the month. :contentReference[oaicite:2]{index=2}
What’s driving metals higher?
Analysts point to several factors supporting bullion prices, including a softer U.S. dollar, uncertainty over U.S. trade policy and geopolitical tensions that encourage safe-haven demand. These dynamics have helped buoy precious metals after steep corrections earlier in the year. :contentReference[oaicite:3]{index=3}
Previous sharp gains in silver and gold were also linked to concerns about U.S. import tariffs and rising tensions with Iran, which can embed risk premiums into commodity markets. Those pressures combined with safe-haven buying helped metals reach multi-year highs in late January. :contentReference[oaicite:4]{index=4}
Recent price history
In late January, both metals reached record levels, with silver topping $120 and gold climbing above $5,600 per ounce. However, markets corrected sharply after U.S. political developments influenced interest rate expectations, leading prices to pull back before the recent resurgence. :contentReference[oaicite:5]{index=5}
