Silver prices climbed above $37 per ounce on Friday, reaching their highest level in over 13 years as intensifying global trade tensions fueled demand for safe-haven assets. The rally came after US President Donald Trump announced a 35% tariff on Canadian imports starting August 1 and signaled plans for blanket tariffs of 15% to 20% on most other trading partners. Earlier in the week, the White House also unveiled 50% levies on copper imports and Brazilian goods, while issuing tariff notifications to additional countries including Japan and South Korea. Despite the bullish momentum, a stronger US dollar limited further upside, as markets continued to assess the outlook for Federal Reserve monetary policy. Chicago Fed President Austan Goolsbee reiterated that the central bank should not adjust rates to manage government debt costs, emphasizing that its mandate remains focused on employment and inflation.