Silver Surges to Fresh Multi-Year Peak

Silver reached its highest level in nearly 14 years on Monday, briefly trading above \$39 as strong bullish momentum extended into a third consecutive session.

Persistent uncertainty surrounding U.S. tariffs and a weakening economic outlook continue to boost safe-haven demand, supporting silver prices.

The latest rally broke above the recent consolidation range of \$35.30–\$37.30, confirming the continuation of the broader uptrend and bringing the psychological \$40 level into focus.

The daily technical setup remains strongly bullish, although overbought conditions suggest rising risk of headwinds as the price approaches the \$40 mark.

A brief pause or consolidation could occur, ideally holding above the \$37 area (former breakout zone turned support), to maintain the bullish structure for another leg higher.

A sustained break above \$40 would reinforce bullish momentum and open the way toward \$40.68 (76.4% Fibonacci retracement of the \$49.78–\$11.23 decline from 2011 to 2020) and the \$41.00 round number.

However, a drop below \$37 would weaken the near-term outlook and risk a deeper pullback toward the \$35.00 zone, which marks the previous range floor and a broken 61.8% Fibonacci retracement level.

Res: 39.50; 40.00; 40.68; 41.00
Sup: 38.25; 37.31; 36.15; 35.00