Silver jumps to a new all-time high as Trump threatens tariffs over Greenland

Silver Hits New All-Time High

Silver surged to a new all-time high today following President Trump's tariff threats related to Greenland. He has threatened to impose a 10% tariff on the UK, France, Germany, and other European nations unless the U.S. can purchase Greenland, with the tariff set to increase to 25% on June 1 without an agreement. Historical patterns show that tariff threats often lead to gains in precious metals due to increased stagflation risks.

Technical Analysis

On the daily chart, silver's rise to new heights is apparent, and from a risk management standpoint, buyers may find better risk-reward setups near the trendline to position for further upward movement. The 4-hour chart indicates traders await a breakout above the 94.00 resistance level to increase bullish bets. Conversely, sellers may enter around these levels to target a drop back to the 86.50 support. On the 1-hour chart, a bullish flag formation at resistance suggests a potential upside breakout, which could encourage buying into new record highs. Important upcoming events include U.S. ADP jobs data and jobless claims figures, alongside any statements from Trump regarding Greenland.