Silver Nears $40 as Supply Tightens and Trade Fears Grow

Silver surged past $39 an ounce, marking its highest level in nearly 14 years, as investors flocked to the metal amid tight physical supply and growing trade tensions. The price jump follows a 4% rally last week and reflects a surge in demand, especially from ETFs, which have added over 2,500 tons of silver since February.

With gold prices already near record highs, many investors are turning to silver as a more affordable alternative. The silver market is also facing strain in London, where much of the metal is tied up in ETFs and unavailable for lending or sale. Tariff threats on Mexico, the world’s top silver producer, have further fueled concerns over supply disruptions.