Silver is testing long-term highs at $42.75 favoured by broad-based Dollar weakness.

Gold has surged past $3,700 per ounce in a historic rally driven by a weakening U.S. dollar, growing geopolitical tensions, and strong demand from central banks and investors seeking a safe haven.

Silver (XAG/USD) enters a bullish consolidation phase near its highest level since September 2011 and oscillates in a range, just above mid-$42.00s during the Asian session on Tuesday.

Silver futures have gained 46.47 per cent this year through Friday, only a hair’s breadth away from 2020’s gain of 47.7 per cent, the most recent biggest annual gain.

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