Silver prices soar late in the New York session, trading with gains of over 3% at around $31.16 after bouncing off daily lows of $30.24.

Silver (XAG/USD) regains positive traction at the start of a new week and climbs to the $30.70-$30.75 area during the Asian session, albeit it remains confined in a multi-day-old range around the 100-day Simple Moving Average (SMA).