Silver rallied as the threat of a global trade war pushed stocks and the dollar lower, underpinning a flight to the perceived safety for assets such as precious metals.
New York Federal Reserve President William Dudley said that four interest-rate hikes this year would constitute a "gradual" tightening.
Hedge funds and money managers increased their net short position in silver contracts to a record high in the week to Feb. 27, U.S. CFTC data showed.
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