Silver rises for third straight day as safe assets rise on geopolitical concerns

Silver prices rose in Europe on Thursday, extending gains for a third straight day, as most safe-haven assets rose amid concerns over the US-China trade war and the rising geopolitical tensions in the Gulf region.

As of 12:12 GMT, silver rose more than 0.3% to $14.82 per ounce from the opening of $14.77, with a high of $14.84 and a low of $14.77.

Yesterday, silver prices rose 0.2%, the second consecutive daily gains, after weak data on the pace of inflation in the United States.

Most of the safe-haven assets continued to rise on Thursday, particularly the precious metals gold and silver, as concerns over the US-China trade war continued, as well as geopolitical tensions after two tankers were attacked in the Gulf.

Gold and silver prices are also drawing support from the likelihood that the Federal Reserve will cut interest rates in the next few months to support the growth of the world's largest economy and in compliance to President Trump's requests of a low interest rates.