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Silver gained sharply as Trump tariff concerns. It hit a high of $32.57 and is currently trading around $32.49.
Through early 2025, trade tensions soared as a result of the Trump administration's assertive tariff policies that increased the average U.S. tariff level to an all-time high 27% and provoked retaliation from across the globe, with China leading the charge. These steps, including the declared national emergency putting a minimum tariff of 10% on all imports, have disrupted global supply chains, pushed up the cost of imports, and provoked stock market volatility. With the ongoing trade negotiations, pressure on US firms to pass on the tariff cost and calls for further retaliations raised the question of a near-term recession.
Trading Strategy and Key Levels for Silver
The commodity is trading above the short term (34 and 55 EMA) and long-term moving average (200- EMA) in the 4-hour chart. The near-term support is around $32 and any violation below will drag the commodity to $31.80/$31.25/$30.75/$30/$29.60/$29/$28.40. The immediate resistance is at $32.65 any breach above targets $33/$33.50/$34/$35/$36.
It is good to buy on dips around $32.48-50 with a stop-loss at $31.80 for a TP of $35.
