Silver prices surged to a 13-year high, reaching $36.06 per ounce amid a weakening U.S. dollar and heightened market speculation. Open interest on silver futures increased by $2.8 billion over two days, marking the largest jump in over a year and surpassing the previous peak of $2 billion in October 2024. The rally in silver is attributed to factors including the depreciation of the U.S. dollar, industrial demand led by China, and expectations of interest rate cuts. Market analysts suggest the potential for silver prices to rise further, with targets ranging from $38 to $45 per ounce, referencing the 2011 peak near $48. Meanwhile, gold prices exhibited volatility, initially falling nearly 1% following a phone call between U.S. President Donald Trump and Chinese President Xi Jinping that signaled a thaw in trade tensions. However, gold later edged higher due to weak U.S. economic data, before declining again amid strong U.S. jobs reports that dampened hopes for Federal Reserve rate cuts. The contrasting movements in gold and silver reflect shifting investor sentiment amid evolving geopolitical and economic conditions.