Silver Edges Up Above $58 Amid Dollar Gains, Risk-Averse Market Sentiment
Silver prices have edged up above $58.00 in early European trading on Friday as the US Dollar trimmed some of its gains.
However, market sentiment remains unfavorable due to the escalating conflict in the Middle East and higher US Treasury yields that triggered a 4.3% reversal in Silver prices on Thursday.
The risk-averse scenario has left Silver vulnerable to further depreciation despite its moderate recovery this week.
A report from Axios suggests that US President Trump is considering a 'massive attack' on Iran, which could further entangle the conflict and increase demand for the safe-haven Greenback.