Silver remained above $85 per ounce on Tuesday, hovering near record highs as concerns over the US Federal Reserve’s independence, geopolitical tensions, and renewed trade fears bolstered demand for safe-haven metals. US federal prosecutors threatened to indict Fed Chair Jerome Powell over his comments to Congress regarding a building renovation project, raising questions about the central bank’s independence. The Trump administration has been pressuring the Fed to cut interest rates, with Powell calling the threat a “pretext” to influence policy. Investors were also watching escalating protests in Iran, which raised fears of potential US intervention, alongside President Trump’s statements on annexing Greenland. In addition, Trump warned that any country conducting business with Iran would face a 25% tariff on all US transactions.
