Silver climbed more than 4% to $75.1 per ounce on Friday, advancing for the fifth consecutive session to reach a new high, as demand was fueled by escalating geopolitical risks and a softer US dollar. More than a week after President Trump announced a blockade on Venezuelan oil tankers, lingering concerns over potential disruptions to global supply have boosted safe-haven demand for the metal. The rally has been further reinforced by sustained central bank purchases, steady inflows into exchange-traded products, and a series of US Federal Reserve rate cuts, with markets increasingly pricing in additional easing in 2026. Lower interest rates have enhanced silver’s appeal as a non-yielding asset, while policy direction and currency debasement continues to underpin investor demand. Year-to-date, silver has surged roughly 158%.