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Silver extends surge as tariff concerns create market tightness

  • Silver reached a 14-year peak driven by US tariff concerns and sustained gold demand.
  • Market tightness was observed with spot silver rising 1.6% in Asian trading and the cost of borrowing spiking to above 6% for one month.
  • Silver demand is high due to trade war fears, potential tariffs, and limited supply, with the metal outperforming gold with a 35% gain this year.
  • Gold also benefitted from geopolitical conflicts but lost some gains, trading near $3,360, while silver prices rose to $38.9712 an ounce.

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