Silver (XAG/USD) approached $34.00 during Wednesday’s European session, driven by increased safe-haven demand. Investor apprehension regarding anticipated reciprocal tariffs from former U.S. President Donald Trump at 20:00 GMT spurred the upward movement. The proposed tariffs, aimed at addressing perceived unfair trade practices, are expected to negatively impact the global economy, including the U.S. market. Reports indicate potential tariffs of approximately 20% on a broad range of imports to the U.S. Investors are also closely monitoring the upcoming U.S. ADP Employment Change data for March.
