Silver Volatile! Sharp Drop, But Still Poised for a Big Surprise
Silver prices weakened after closing slightly lower in the previous session. This decline occurred as investors shrugged off the United States' decision to refrain from imposing tariffs on critical minerals. Market sentiment has turned more cautious.
Despite the decline, silver is still trading in a high range, approaching US$90 per ounce. The white metal remains on track for a weekly gain of around 13%. This rise was driven by a large investor rotation into commodities, including gold and several base metals, which hit record highs earlier this week.
Last Thursday, silver prices plunged as much as 7.3%. However, prices subsequently recovered most of those losses. This recovery occurred after US President Donald Trump decided not to impose significant tariffs on imports of critical minerals.
Concerns about tariffs previously caused many metals, including silver, to be held up in US warehouses. This situation triggered a global short squeeze last year. The impact is still being felt and will continue to support silver prices well into 2026.
At 7:38 a.m. Singapore time, silver prices fell 2% to US$90.8611 per ounce. Meanwhile, gold, platinum, and palladium prices were stable. The Bloomberg Dollar Spot Index also remained flat after closing slightly up 0.1% in the previous session. (az)
Source: Newsmaker.id
