The price of silver reached a 13-year high of around $38.3 to $39.1 per ounce on July 12, 2025. This milestone is the highest level since 2011. The current rally is primarily fueled by political tailwinds, particularly due to the new US tariff policy under President Trump, which has led to increased tariffs on Canadian imports (35%) and other trade partners (15-20%). These measures are stoking uncertainty in the global economy, resulting in a loss of confidence in economic stability and driving investors increasingly towards safe havens like silver.
Increasing Demand for Tangible Assets
The strong demand for tangible assets is also reflected in the fact that institutional investors, despite slight hedging, remain net long positioned. This indicates ongoing interest in the silver market. Additionally, seasonal developments support the upward trend until the end of July. Historically, corrections are possible in August, but the long-term picture remains positive.
Interesting for Private Investors
This price development could increase the interest of private investors and retail investors, as silver is regarded as both an industrial metal and a safe haven and stable asset. Since the beginning of the year, the price has risen by about 35%—stronger than gold—which has attracted many investors.
| Factor | Description |
|---|---|
| Current Price | About $38-39 per ounce (13-year high) |
| Political Influence | New US tariff policy with high tariffs increases global uncertainty |
| Demand | Strong demand for safe investments amid political instability |
| Investor Behavior | Institutional investors remain predominantly long; private investors show growing interest |
| Seasonal Development | Upward trend supported until the end of July; possible correction in August |
This combination of political factors and market mechanisms makes silver an attractive investment option at present for both institutional and private investors.