Market Volatility Drives Silver Prices Up

In a surprising turn of events, silver prices surged by as much as 3% this Friday, reaching their highest point since October 31. This significant increase comes amidst broader market volatility, primarily fueled by concerns over the latest tariffs imposed by the United States. US President Donald Trump has announced that further measures are in the pipeline, raising fears of potential global economic instability and a possible uptick in inflation.

Precious Metals on the Rise

At 5:44 am ET, silver was trading at $33.27 per ounce, marking a 2.80% increase. Not far behind, gold also saw a rise, albeit a modest 0.30%, bringing its price to $2,937.27 per ounce. Platinum and palladium weren't left out of the rally, with platinum adding 0.20% to sell for $996.76 per ounce and palladium improving by 1.30% to $988.63 per ounce a minute later.