58% OFF the Premium on Silver Rounds – Ends 3/7 at 4pm EST (while supplies last)
Silver prices (XAG/USD) have risen to nearly $34 during European trading as President Trump’s announcement of permanent 25% tariffs on imported vehicles sparked global economic concerns, enhancing silver’s status as a safe-haven asset.
These tariffs, effective April 2, will significantly impact top auto exporters to the US including Mexico, Canada, Japan, South Korea, and Germany.
The measures have also weakened the US Dollar as domestic economic consequences are anticipated – US automakers may need to relocate manufacturing domestically, potentially increasing car prices due to higher labor costs and reducing household purchasing power.
Investors are now focused on Friday’s Personal Consumption Expenditure Price Index data, with economists expecting core PCE inflation (the Fed’s preferred gauge) to show year-on-year growth of 2.7% for February, up from January’s 2.6%.
Technical analysis shows silver approaching the upper boundary of an Ascending Triangle pattern near $34.87, with support at $33.20.
