Manufacturing Data Fuels Silver's Rise

Silver rose above $31.5 per ounce, near its highest since early December, as easing trade war fears and strong manufacturing data stimulated demand. While Trump imposed 10% tariffs on China and 25% on Canada and Mexico, a delay in Mexico’s tariffs eased protectionist concerns. The ISM reported improving U.S. factory activity, reinforcing silver’s industrial demand outlook.

The Silver Institute projected a fifth market deficit in 2025, with strong industrial and retail investment demand outweighing weaker jewelry and silverware demand.

Key resistance levels are 32.50, 33.00, and 33.50. Support stands at 31.80, followed by 30.90 and 30.20.