Spot Silver scaled a fresh high not seen in over 13 years on Friday, after the US slapped fresh tariffs on goods from Canada and warned of blanket duties on other trade partners, driving up safe-haven demand.
Yesterday US President Donald Trump said the US would impose a 35% tariff on Canadian imports and announced plans of blanket duties of 15% or 20% on the majority of other trading partners.
This followed a 50% tariff announcement on Brazilian imports and a similar duty on copper imports.
All of these tariffs are set to take effect on August 1st.
A firmer US Dollar, however, restrained further upside for the metal.
The US Dollar Index was set to register its strongest weekly performance since late February.
Spot Silver was last up 1.13% on the day to trade at $37.47 per troy ounce.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
