Silver prices dropped to approximately $32.50 per ounce on Thursday, receding from their peak over the past two weeks as traders chose to secure their profits after a robust upswing in precious metals. Recently, these metals have experienced a significant rise, with gold reaching unprecedented levels due to increasing uncertainties in global trade and overarching economic challenges enhancing the allure of safe-haven investments. This week, President Trump escalated the trade conflict by initiating an investigation into the possibility of new tariffs on pivotal imports such as critical minerals, semiconductors, and pharmaceutical products. Concurrently, China has signaled a conditional willingness to re-engage in trade discussions, demanding greater respect, more consistent policy messaging, and a U.S. negotiator fully empowered by President Trump. Adding to the market’s cautious outlook, Federal Reserve Chair Jerome Powell cautioned that new tariffs could lead to increased inflation and hinder economic growth, thus complicating the Fed’s dual objectives. Powell also highlighted that the central bank is not in a hurry to reduce interest rates, emphasizing the requirement for further data before making policy adjustments.
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