Fresnillo PLC (LSE:FRES) and Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) were leading the FTSE 350 risers on Monday morning as silver prices hit their highest since 2011.
Silver reached a 13-year high last week at $38 an ounce, and this morning has continued the climb to above $39 per oz.
In London, Mexican miner Fresnillo was top of the blue-chip leaderboard, up 2.5%, while on the FTSE 250 Hochschild, which has underground mines in Peru and Argentina, was up 4.7% and close to the eight-year highs seen earlier this year.
In New York, Hecla Mining Company (NYSE:HL) was up 1.5% in pre-market trading after jumping 7.3% on Friday.
Silver-focused miners around the world were benefiting too. Australia's Sun Silver was up almost 19% and Silver Mines rose 17%, while in Hong Kong China Silver Group has gained 14%.
Gold is also trading at a three-week high around $3,370.
The price of silver was rising as investors "seek out safe havens" amid Donald Trump’s trade war uncertainty, said market analyst Victoria Scholar at Interactive Investor.
Last week's surge followed the US President's warning about sweeping tariff hikes, including a proposed 50% tariff on copper, fueling market volatility and reigniting demand for safe-haven assets.
Market analyst Ipek Ozkardeskaya at Swissquote Bank said gold seemed to be "no longer reacting positively to trade turmoil", while she said silver was on the up as it was "catching up on dollar softness".
The Gold/Silver ratio fell to 86.5 on Monday, down 4.6% over the past week, indicating stronger relative performance from silver.