Silver prices climbed to a one-week high, rising as much as 1.9% and extending gains for a third straight day.
The rally was supported by a softer U.S. dollar, which fell to a three-month low after Germany announced plans to increase public spending and ease borrowing limits. A weaker dollar typically makes dollar-priced commodities such as silver more affordable for holders of other currencies, helping to lift demand.
Concerns about rising trade tensions also helped boost silver’s safe-haven appeal. Comments from President Trump warning that tariffs could cause economic pain have intensified worries about potential disruptions to global trade, prompting investors to seek protection in precious metals.
Overall, the combination of a weakening dollar and heightened geopolitical and trade-related uncertainty contributed to renewed interest in silver as a portfolio hedge. Traders and investors often view precious metals as a defensive position when equity markets and economic outlooks are uncertain, and the recent developments appear to have reinforced that trend.
Market participants will be watching upcoming economic data and policy announcements for further direction. If the dollar remains under pressure or trade tensions escalate, silver could sustain its upward momentum; conversely, a strong dollar or easing geopolitical risks might temper further gains.