Silver Rises Over 120% YTD 
US manufacturing activity contracted in March for the first time this year, with the ISM index falling to 49 from 50.3 (readings below 50 indicate contraction).
Meanwhile, prices paid for materials surged 7 points to 69.4, the highest since June 2022, marking a concerning 14.5-point increase over two months.
The contraction appears linked to uncertainty around the Trump administration’s tariff policies, with factory orders slumping to their weakest level since May 2023, production shrinking, and employment contracting at the fastest pace since September as manufacturers pause investment plans amid policy uncertainty.
