On our analysis from the 31.07 we advised that we were long Silver and we were looking for prices to break to the $16.6 resistance level before heading towards $17.3. Due to Trump unexpectedly adding 10% tariffs on $300 billion of Chinese goods we believe a breakout above $16.6 is imminent and due to Silver's volatile nature prices could quickly move towards $17.3. Therefore, we will hold our long position as we wait further developments in particular in the equity markets which are dropping sharply as Silver is seen as a safe haven assets and with no rate hikes on the horizon we would expect it to go up.