Silver Price Breaks $86 Resistance: Will the Trump-Xi Summit and a 215M Ounce Deficit Ignite a Move to $94?

Silver (XAG/USD) is trading near $86.22 on Tuesday, May 12, 2026, marking a significant +0.16% gain following a decisive breakout from a multi-week consolidation. While the U.S.-Iran ceasefire has successfully cooled geopolitical panic buying, silver has found a much more powerful engine: the Trump-Xi Summit in Beijing, scheduled for May 13–15.