Silver prices soared after suspension of some US import tariffs

Silver prices rebounded from $32.7 per ounce on Thursday following yesterday's surge in gold. FXEmpire experts attribute the renewed investor interest in precious metals to the temporary suspension of Trump's import duties after official complaints regarding the illegality of his measures were filed.

The US Court of International Trade ruled that Trump had exceeded his authority. However, on Friday, just a day later, the tariffs were reimposed by the appeals court, according to the website.

Meanwhile, market participants have raised their expectations regarding industrial demand for silver in the absence of any obstacles to its supply. Yesterday's easing of trade tensions had a positive impact on the asset's value. FXEmpire experts note that the dollar's decline served as an additional supporting factor.

According to the website's forecasts, a jump in silver prices above $33.7 per ounce would bring them closer to the $35 level.