Silver jumped sharply over the last few days and pushed to new multi-month highs. The price broke out from a steady uptrend and accelerated fast, with strong daily gains and higher volatility. The move followed a period of consolidation and suggests fresh buying pressure rather than a slow grind higher. Silver Price Surges as Global Risks and Physical Demand Drive Sharp Move Silver climbed sharply over the past few days as investors shifted toward safe-haven assets. Rising macro uncertainty, including renewed tariff threats and concerns around U.S. fiscal stability, pushed demand toward precious metals. Gold hitting fresh highs reinforced the move and helped lift silver alongside it. At the same time, strong physical demand from China added direct pressure to prices. Silver traded at a clear premium on the Shanghai market compared with London benchmarks. That gap signaled aggressive local buying and pulled global prices higher through arbitrage activity. Meanwhile, tight physical supply conditions magnified the rally. Limited inventories left the market sensitive to new demand, while technical breakouts attracted momentum traders. As a result, buying accelerated and volatility increased over the last few sessions. Silver Chart Points to 112.3 as Key Level Before a Run at Record Highs Meanwhile, a chart shared by Altiorix Trades on X shows silver XAGUSD trading just below a key weekly resistance zone. The post said silver needs to reclaim 112.3, labeled as the daily week value area high, and then hold that level on the 1 hour timeframe. If that happens, the account said price could retest the previous all time high and potentially set a new one. XAGUSD 30-Minute Silver Chart: Source: FXCM The chart shows XAGUSD on a 30 minute FXCM chart with price near 111.62 at the time of capture. It marks 112.333 as the dWeek VAH level, with 109.594 labeled as dWeek VWAP and 106.854 labeled as dWeek VAL. In that setup, the 112.3 area acts as the immediate pivot, while the 109.6 and 106.9 zones stand out as lower reference levels traders often watch during pullbacks. The chart also highlights recent volatility after a sharp spike and a quick drop, followed by a steadier rebound toward the 112 zone. That price action keeps the focus on whether buyers can push through resistance and keep bids there, rather than fade back into the prior range. Altiorix Trades framed the 1 hour “hold” as the confirmation step before a higher test, linking that technical trigger to the next move toward prior highs.
