Why Silver Rallied 6% Before the Trump-Xi Meetings in Beijing
Early this week, the price of silver jumped by just over 6% to reach $85.30 an ounce. This came as markets awaited the summit due to be held in Beijing between President Trump and Xi Jinping of China. We unpack why markets reacted in this way in anticipation of the first visit by a sitting U.S. president to China in almost a decade. For starters, the summit is primarily geared toward ironing out the differences between the two major economies on matters of trade. Approximately 60% of the demand for silver comes from industrial users of the metal in the…