The cost of an ounce of silver rose to more than $88 on Wednesday, marking a significant increase. A preliminary worldwide tariff that is currently set at 10% has been established by the United States of America, and there are plans to raise it to 15% in the near future. The Supreme Court has ruled that the reciprocal tariffs that President Donald Trump imposed are unconstitutional and hence unlawful.

Participants in the market are conducting a thorough analysis of the ongoing third round of nuclear discussions between the United States of America and Iran, which is now taking place during the Geneva conference.
It is possible that interest rates will continue to be stable, according to the Federal Reserve, because inflationary pressures are still present. As the demand for safe-haven assets grew in response to tariff and geopolitical uncertainty, silver prices climbed beyond $88 per ounce on Wednesday, recovering from the previous session.

This was a recovery from the previous session. The United States of America adopted a provisional global tariff of 10% on Tuesday, and there are indications that the White House intends to hike it to 15% in the subsequent days. This action is being taken in response to a recent decision made by the Supreme Court, which invalidated the reciprocal tariffs that President Donald Trump had imposed.

As the various parties involved in the nuclear negotiations between the United States and Iran prepare for the impending third round of negotiations, which is slated to take place in Geneva this coming Thursday, geopolitical tensions have increased. Although there is a diminishing likelihood of the Federal Reserve lowering interest rates in the near future, there is a possibility that interest rates will remain unchanged for an extended period of time. This suggests that the chance for big breakthroughs presents itself as being restricted.