Silver Price Forecast: XAG/USD climbs to near $52.00 on fresh US-China trade tensions

• Silver price rises to near $51.90 in Wednesday's early Asian session.
• Fresh tensions between the US and China could boost the safe-haven flows. 
• Fed's Powell signaled another cut as weak hiring pressures unemployment. 

Silver price (XAG/USD) holds positive ground around $51.90 during the early Asian session on Wednesday. The white metal retreats from an all-time high after a historic squeeze in London began to show some signs of easing. However, the potential downside might be limited amid trade tensions and US rate cut expectations.

A rise in Silver price in the previous session is bolstered by concerns over a depleting silver inventory in London, which drove prices to a premium over those seen in New York and prompted traders to ship metals across the Atlantic for a profit. Nonetheless, a historic squeeze in London began to show some signs of easing, which might drag the white metal lower. 

Rising trade tension between the US and China boosts the safe-haven flows, benefiting the Silver price. US Trade Representative Jamieson Greer said on Tuesday that US President Donald Trump could slap China with 100% tariffs on November 1 or sooner, depending on Beijing's next action in a dispute over rare earths. 

Bets the Federal Reserve (Fed) will cut interest rates twice more this year might contribute to Silver's upside. Fed Chair Jerome Powell signaled the Fed is on track to deliver another quarter-point interest-rate reduction later this month, even as a government shutdown significantly reduces its read on the economy. Lower interest rates could reduce the opportunity cost of holding Silver, supporting the non-yielding precious metal.