Insights 
VT 
Key Points:
- Silver breaks $37.40, its highest level since 2011
- Tariff hikes on Canada, Brazil, and others drive haven flows
- US dollar strength and Fed rhetoric cap short-term gains
Silver prices soared above $37.40 per ounce on Friday, notching their highest level in over 13 years, as the global flight to safety accelerated. The move came in direct response to President Donald Trump’s sweeping tariff agenda, which now includes 35% tariffs on Canadian imports, blanket 15%–20% tariffs under consideration for most trading partners, and 50% levies already confirmed for Brazilian goods and copper imports
The White House also issued tariff warnings to Japan, South Korea, and several smaller nations this week. These aggressive measures rekindled fears of global trade contraction, sending tradersinto defensive assets like silver and gold.
Technical Analysis
Silver has rebounded sharply from a $3,311 intraday low to close at $3,319.48, recovering into a congestion zone at $3,320–$3,325 (mid-term resistance) following a breakout of the descending 5/10 MA. The moving averages are realigning bullishly—5‑MA has crossed above the 10‑MA and is trending toward the 30‑MA—signaling upward momentum.
Picture: Momentum building heading toward $3,360, as seen on the VT Markets app
The MACD has flipped positive, with the histogram moving above zero, reinforcing the short‑term bullish bias. However, the consolidation just below the $3,335 resistance hangs like a ceiling, with room for either a breakout or a pullback.
Momentum Intact, but Headwinds Remain
With safe-haven appetite firmly in play, silver may continue to rally if geopolitical risk and tariff uncertainty persist. However, strength in the US dollar and the Fed’s hawkish leanings could temper the pace of gains. If silver breaks above the $37.50 zone with volume confirmation, a push toward $38.00 remains plausible.
