Silver Surges 8.3% After Trump Delays Critical Mineral Tariffs, Tech Rally Lifts Dow Futures

Silver prices experienced extreme volatility, closing the session at $34.60 per ounce after a 12.1% intraday spike, driven by a surprise announcement from former President Donald Trump that he would indefinitely postpone proposed tariffs on critical minerals including rare earth elements and cobalt. The move reversed earlier market fears of supply disruptions and elevated production costs, sending precious metal traders into a buying frenzy. The rally in silver followed a robust performance in the technology sector, where Nvidia shares climbed 7.4% and Microsoft advanced 4.2%, contributing to a 1.1% gain in the Nasdaq Composite. These gains lifted Dow futures, which rose 320 points to 41,780, reflecting renewed investor confidence in growth-oriented equities. The delay in tariffs has significant implications for industries reliant on critical minerals, including electric vehicle manufacturers and renewable energy firms. Analysts estimate that the original tariff proposal could have increased raw material costs by 15% to 20% for U.S.-based battery producers, potentially delaying EV production timelines by up to 18 months. Investors are now reassessing trade policy risks, with energy and materials sectors showing mixed reactions. While silver and gold gained, shares of U.S. mining firms tied to critical mineral extraction saw modest gains, averaging 2.3% across the S&P 500 Materials Index. Market participants are closely monitoring upcoming policy announcements from the new administration.