Silver prices climbed above $36 per ounce on Monday, hovering at their highest levels in over 13 years as safe-haven demand remained strong amid global economic and trade uncertainties. The metal also gained support from gold’s recent underperformance, which prompted investors to shift toward alternative precious metals. Caution prevailed in markets ahead of renewed US-China trade negotiations in London, with sentiment dampened by underwhelming Chinese export data. In May, China’s exports missed expectations, weighed down by a sharp decline in shipments to the US, underscoring persistent trade tensions. Beyond its role as a hedge, silver also benefited from robust industrial demand - particularly in solar energy applications. According to the Silver Institute, global silver supply was 15% below demand in 2024, and another deficit is projected for this year, further supporting prices.