VT 
Silver is gaining renewed attention as rising trade tensions and geopolitical risks drive investors toward safe-haven assets. This analysis breaks down what’s fuelling silver’s momentum, key technical patterns, and the outlook going forward.
Silver spikes on trade fears
Silver prices surged beyond $37.40 per ounce on Friday, marking their highest level in more than 13 years, amid a rising wave of risk aversion across global markets.
The sharp uptick followed the announcement of President Donald Trump’s extensive tariff measures, which now include 35% tariffs on Canadian imports, proposed blanket tariffs of 15%–20% on most trade partners, and confirmed 50% duties on Brazilian goods and copper shipments.
In addition, the White House issued fresh tariff threats targeting Japan, South Korea, and several smaller economies this week.
These aggressive trade stances reignited concerns over a potential slowdown in global trade activity, prompting investors to shift into safe-haven assets such as silver and gold.
Technical analysis
Silver has staged a strong rebound from an intraday low of $3,311, closing at $3,319.48.
The recovery brought prices back into a congestion range between $3,320 and $3,325—considered a mid-term resistance area—after breaking above the descending 5/10 moving average channel.
Picture: Momentum building heading toward $3,360, as seen on the VT Markets app.
The moving averages are beginning to align with a bullish bias: the 5-day MA has crossed above the 10-day MA and is now approaching the 30-day MA, indicating growing upward momentum.
The MACD has also turned positive, with the histogram moving above the zero line—supporting a short-term bullish outlook.
That said, the zone just below $3,335 remains a key resistance, acting as a ceiling that could either trigger a breakout or lead to a pullback.
Momentum holds, but caution lingers
While strong safe-haven demand continues to underpin silver’s bullish run, several factors could slow its momentum.
Ongoing geopolitical uncertainty and tariff-related tensions remain supportive, but a strengthening US dollar and the Federal Reserve’s hawkish policy stance may limit further upside.
Should silver break decisively above the $37.50 level with solid volume, a move towards the $38.00 mark appears within reach.
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