Introduction
The silver price has recently reached a 13-year high. The silver future on the COMEX rose by 5.22% last week to $39.075 per ounce, marking the highest level in over 13 years. This price movement is primarily driven by political and geopolitical developments.
Impact of US Tariff Policy
President Trump has announced high tariffs of up to 35% on Canadian imports as well as punitive tariffs of 15-20% on numerous other trading partners. These measures intensify global distrust towards economic policy stability, driving investors towards safe assets like silver and gold.
Geopolitical Tensions and the Weak US Dollar
In addition to tariff policy, geopolitical uncertainties also play a role, particularly the ongoing Russia-Ukraine conflict. This situation increases the demand for crisis currencies such as silver. Another factor supporting the silver price is the weak US dollar.
Market Reactions and Investor Behavior
For private investors and savers, these developments are important indicators of market trends in the commodity sector. The strong demand for silver highlights the interest in tangible assets as protection against political risks. Institutional investors remain predominantly optimistic despite profit-taking and maintain a net long position of over 58,000 contracts.
Seasonal Developments
From a seasonal perspective, the period until the end of July supports the upward trend; however, corrections may occur in August before rising prices are expected again from September onwards.
Conclusion
- Silver price rises sharply thanks to political tailwind
- Price close to $39 per ounce – highest level in a decade
- Strong demand as a safe haven
- Long-term upward trend intact
This dynamic makes silver a significant commodity for investors with high potential in an uncertain political environment.