21.01.202603:56:02UTC+00Silver Hovers Near Record High

Silver slightly fell below $94 per ounce on Wednesday but held close to its record highs due to heightened tensions between the US and Europe regarding Greenland and a global bond market selloff, which drove up demand for safe-haven assets. US President Donald Trump has threatened to impose new tariffs on eight European countries that oppose his plans unless a deal involving Greenland is successfully negotiated. Meanwhile, the European Union is contemplating possible countermeasures. There are also market concerns that Europe might use its significant holdings in US stocks and bonds as leverage in ongoing trade disputes, with reports that a Danish pension fund is considering divesting from US Treasuries. Additionally, global bond yields increased after a selloff in Japanese government bonds, sparked by Prime Minister Sanae Takaichi's proposal to eliminate the 8% sales tax on food, raising concerns over fiscal stability. Elsewhere, increased retail investor activity in China, India, and the Middle East has contributed to a global squeeze in the silver market, as rising prices have sparked greater buying interest.