Silver futures eased from a 13-year high on Tuesday as traders locked in profits after prices touched $37 per ounce. The metal had posted an impressive 9.5 percent rally last week, settling at $36.14 per ounce. Over the past three months, silver has displayed notable volatility, rebounding sharply from a low of $27.55 in April. Both silver and gold have advanced nearly 25 percent so far in 2025, supported by safe-haven demand amid global trade and economic uncertainties. However, cautious sentiment prevailed ahead of US-China trade talks in London, further pressured by weak Chinese export data for May, which highlighted a sharp drop in shipments to the US. Beyond its hedge appeal, silver remains underpinned by robust industrial demand, particularly in solar energy. The Silver Institute reported a 15 percent global supply deficit in 2024, with another shortfall likely this year, reinforcing the metal’s bullish fundamentals.
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