Silver Reaches All-time High Following Global Uncertainty

Silver rose globally on Tuesday's trading to reach its highest level in nearly two years following global uncertainty and risky asset losses.

Investors turned to the metal as a safe haven after signs of a global recession and the performance of an inverted bond yield curve, sliding into negative territory for the first time since October 2016.

Trade uncertainty between China and the United States has also risen again after Beijing denied US President Donald Trump's comments on further negotiations.

Silver's gains came in conjunction with the rise of gold, by more than $ 14, as well as US stocks and currency losses.

[caption id="attachment_74607" align="aligncenter" width="630"] A chart showing silver spot price on stock market[/caption]

Economic data revealed that US house prices rose at the slowest pace in seven years, while consumer confidence fell, yet, less than analysts expectations.

At the end of the trading, silver futures for September delivery rose 1.8 percent to settle at $ 17.95 an ounce, the highest level since September 2017.

Moreover, the dollar index, which measures the currency's performance against six major other currencies declined by 0.09 percent at 97.991.

There are quite a few factors that affect precious metals' prices globally, such as the civil unrest in Hong Kong, tensions in the Arabian Gulf and that in Venezuela. Besides, the UK's unplanned departure, leaving the European Union (EU) with a no deal Brexit. All these factors push investors to turn to rare metals for safer investments.