Silver prices are surging today almost 5% in line with gold, which is posting almost 2.4% gain. Precious metals surge on weakening US dollar, increasing geopolitical tensions (Ukraine - Russia, Iraq and Taiwan) and fiscal pressure which is increasing US treasuries yields and debt-financing debt model. The US budget may be even harder to finance, due to Trump initiatives such as tax cuts and social programs. The demand for safe haven assets lifts silver higher today, fuelling the investors' appetite for multi-year highs on silver market. The major resistance zone is now $35, while the important long-term support is set at $32 zone (EMA200, the red line), and $29-30, supported by previous price action (local lows from December 2024 and April 2025).
Source: xStation5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
