FX.co ★ Silver Falls as US Defers Import Tariffs

Silver prices decreased by over 1% to approximately $91 per ounce on Friday, continuing their downturn following a volatile trading session the day prior. This decline comes as the United States opted not to impose tariffs on critical minerals. Previously, the looming possibility of U.S. import tariffs on essential minerals had sparked a significant surge across the commodities market. This led to record highs for silver, copper, and other metals, as traders hastened to ship these goods to the U.S. before potential tariffs could be enacted. Last year, silver was included in the U.S. critical minerals list due to its crucial contributions to advanced technologies and clean energy sectors, notably in the manufacturing of solar panels, electric vehicles, and electronics. Despite its recent fall, silver is set to end the week with a gain exceeding 13%, bolstered by strong demand for precious metals as safe havens amid escalating geopolitical tensions and increasing concerns about the independence of the U.S. Federal Reserve.