17 April | Silver

Silver prices decline amid profit-taking and escalating trade tensions

Silver prices decline amid profit-taking and escalating trade tensions

Silver prices declined amid profit-taking and escalating tariff tensions, falling below $32.50 an ounce on Thursday. This retreat from two-week highs follows a recent rally driven by increased interest in safe-haven assets.

Precious metals had demonstrated significant growth in previous sessions, with gold hitting all-time highs amid rising global trade tensions.

This week, US President Donald Trump ordered an investigation into the potential introduction of new tariffs on strategically important imports, including minerals, semiconductors, and pharmaceuticals. This move marks a new round in the trade confrontation with China. In response, Beijing expressed conditional readiness to resume talks, emphasizing the need for mutual respect.

Federal Reserve Chairman Jerome Powell added to market uncertainty by warning of intensifying inflationary pressures in the US and slowing economic growth due to current tariff risks. According to Powell, the central bank is not in a hurry to cut rates and will wait for more data before revising its monetary policy, as reported by TradingEconomics.

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