Trump's Increased Steel and Aluminum Tariffs Trigger Surge in Silver
According to foreign media reports, after the Trump administration announced an increase in steel and aluminum tariffs from 25% to 50%, silver experienced a strong surge. This news raised market expectations that the U.S. government might take similar trade protection measures for other key metals (such as silver), thus boosting safe-haven and alternative demand for silver. Goldman Sachs futures trader Robert Quinn stated that the news of the U.S. raising steel and aluminum tariffs triggered significant long positions in the silver futures market. According to foreign media analysis, the total open interest in silver futures surged by $2.8 billion, marking the largest two-day increase in the past year. Despite significant fluctuations in the EFP (the difference between futures and spot prices), the overall trend is towards contango, indicating that market expectations for recent spot tightness have increased. Additionally, the rise in silver prices has driven programmatic trend-following funds to enter long positions.
Possible simultaneous rise: Silver and Bitcoin are both seen as alternative assets outside the traditional financial system. If silver rises due to safe-haven sentiment (such as geopolitical tensions and inflation concerns), Bitcoin may follow suit as investors seek to hedge against fiat currency depreciation or systemic risks.
