16.01.202616:13:04UTC+00Silver Drops Further

Silver prices fell more than 4% on Friday, dropping to below $88.7 per ounce. This decline extends the sharp pullback that followed the previous session's volatility caused by the United States' decision not to impose tariffs on critical minerals, removing a significant market catalyst. Earlier in the week, the fear of potential U.S. import tariffs had sparked an aggressive rally in commodities, with silver and other metals reaching record highs as traders rapidly shipped goods into the U.S. to pre-empt possible tariffs. The decrease was further exacerbated by widespread profit-taking across precious metals, facilitated by easing geopolitical tensions and a stronger U.S. dollar, which diminished the attractiveness of non-yielding assets. Nevertheless, silver is still poised for a weekly gain exceeding 10%, bolstered by the earlier surge driven by tariff concerns and ongoing demand fueled by its crucial role in clean energy and advanced technology applications.