Silver climbed toward $33.90 an ounce, its highest level since late October, as investors sought safe-haven assets amid rising tariff tensions and growing bets on Federal Reserve rate cuts following weaker-than-expected U.S. inflation data. Trade tensions escalated after President Trump threatened 200% tariffs on European wines, champagnes, and other alcoholic beverages in response to the EU’s 50% tariff on American whiskey. Meanwhile, U.S. Commerce Secretary Howard Lutnick stated that a recession would be "worth it" to implement Trump’s economic policies. On the economic front, U.S. producer prices were unexpectedly flat in February, while consumer inflation rose just 0.2%, below forecasts. Additionally, jobless claims fell again last week, signaling a still strong labor market.
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