FX.co ★ Silver Pulls Back After Rally on Technical Correction

Silver experienced a nearly 1% decline, settling at approximately $33.3 per ounce on Thursday. This decrease is likely attributed to a technical adjustment following a more than 3% increase in the previous session, which marked a three-week high. The distinct nature of silver—serving as both a precious and industrial metal—has caused it to behave differently from gold. This dual role makes silver particularly responsive to changes in macroeconomic conditions and trade developments. Recently, market dynamics have been influenced by shifting U.S.-China trade signals. Although the Trump administration is allegedly contemplating tariff reductions dependent on discussions with Beijing, China has stipulated a cessation of U.S. threats as a prerequisite for engagement. Nevertheless, optimism waned after Treasury Secretary Scott Bessent clarified that no unilateral reductions have been proposed and formal discussions have not commenced.