Silver is trading 3.1% up at $59.30 as escalating Middle East tensions and rising energy costs drive investors toward safe-haven assets.
- Geopolitical conflict and a risk-off sentiment in equity markets are supporting the metal as a hedge against global uncertainty.
- Renewed inflation concerns stemming from surging oil prices are further boosting demand for precious metals.
- The move follows a period of cautious trading as market participants pivot away from equities ahead of the upcoming Fed meeting.