#SilverPrices held above $31.40 per ounce on Friday, nearing seven-week highs as safe-haven demand surged following #USPresident Donald Trump’s threat to impose a 25% tariff on #Mexico and #Canada starting Saturday. The #SilverInstitute forecasts a fifth consecutive year of significant market deficit in 2025, driven by robust industrial demand and retail investment, despite weaker consumption in jewelry and silverware. Key industrial applications, such as #SolarPanels, #ElectricVehicles, and #ConsumerElectronics, are expected to fuel demand. While global silver supply is projected to rise in 2025, with increased production from #China, #Canada, and #Chile, the market deficit is likely to persist. #SilverMarket #PreciousMetals #Commodities #TradeTensions #IndustrialDemand #SafeHaven