20.02.202602:53:44UTC+00Silver Set for First Weekly Gain in Four

Silver traded above $78 per ounce on Friday and was poised for its first weekly gain in four weeks, supported by escalating geopolitical tensions and thin trading volumes in Asia. Tensions between the United States and Iran intensified after President Donald Trump warned Tehran to reach an agreement on its nuclear program or face consequences, while Iran indicated it could target US bases in retaliation if attacked.

Commodity trading volumes remained subdued throughout the week as major Asian markets, particularly China, were closed for the Lunar New Year holidays. Previously, silver and other precious metals had experienced a blowoff rally followed by a historic selloff, driven in large part by speculative activity among Chinese traders.

At the same time, market participants were awaiting key US economic data that could shape expectations for Federal Reserve policy. Minutes from the latest FOMC meeting showed policymakers were divided on the interest rate outlook, with some officials suggesting that further rate hikes could be justified if inflation stays elevated.