The price of an ounce of silver is shown to be trading at a level that is more than $78 on Friday. Positioned to reach its initial weekly rise within a span of four weeks when it is in this position. Particularly in the context of nuclear negotiations, the continuous tensions that exist between the United States of America and Iran are becoming more intense. Due to the fact that the celebrations of the Lunar New Year take precedence, trading volumes across Asia are rather low.

The minutes from the Federal Open Market Committee indicate a variety of viewpoints regarding the path that future interest rates will take. In the midst of growing geopolitical tensions between the United States and Iran, silver held its position over $78 per ounce on Friday, paving the way for its first weekly advance in four weeks. The President of the United States, Donald Trump, issued a warning to Tehran about the need of obtaining a nuclear agreement, stressing that failure to do so could result in major repercussions.

Iran’s response was to alludes to the possibility of reprisal actions directed at military installations in the United States. As a result of large Asian markets, most notably China, observing shutdown in order to observe the festivities associated with the Lunar New Year, trading volumes indicated a notable fall. The metal went through a large rally that was marked by a blowoff phase, and then it faced a significant selloff that was influenced by speculative trading operations in China.

Participants in the market are presently focusing their attention on impending economic data from the United States. This is due to the fact that the minutes from the Federal Open Market Committee highlighted a variety of perspectives regarding the prospect of more interest rate hikes in the event that inflation continues to be elevated.