Silver prices surged past $36 per ounce on Monday, marking the highest levels seen in over 13 years. This increase reflects strong safe-haven demand driven by ongoing global economic and trade uncertainties. Investor interest shifted towards silver due in part to gold's recent lackluster performance, prompting a search for alternative precious metals. Markets exhibited caution in anticipation of renewed US-China trade talks in London. This caution was exacerbated by disappointing Chinese export figures, which highlighted the impact of ongoing trade tensions with the US, as exports from China fell short of expectations largely due to a significant drop in shipments to the United States.
In addition to its appeal as a financial hedge, silver prices were buoyed by robust industrial demand, particularly within solar energy applications. As per the Silver Institute, the global supply of silver was 15% lower than demand in 2024, and another shortfall is anticipated this year, further underpinning price stability.
