17.02.202600:17:49UTC+00Silver Falls in Thin Holiday Trading

Silver fell nearly 2% to around $76 per ounce on Tuesday, extending a three-week slide as trading activity remained muted during market holidays in China, Hong Kong, and other parts of Asia. Chinese investors had fueled a speculative rally in precious metals in January before a sharp reversal prompted regulators to introduce measures aimed at curbing market risks. Silver spiked to a record high above $120 per ounce in late January, then plunged to roughly $64 earlier this month as leveraged positions were unwound and investors sold holdings to cover losses in other assets. With US markets now reopened, focus turns to the upcoming Federal Reserve meeting minutes and the core PCE price index, which investors hope will provide clearer guidance on the future path of monetary policy. Last Friday, silver rebounded nearly 3% after softer-than-expected US inflation data strengthened expectations that the Fed will start cutting rates later this year. Futures markets currently imply a first rate cut in July, with a significant chance of an earlier move in June.