FX.co ★ Silver Declines on Easing Trade Tensions

Silver prices declined by over 1%, reaching approximately $32 per ounce on Thursday. This marks the third consecutive session of decline as the easing of global trade tensions reduced the demand for safe-haven assets. Market sentiment took a turn after U.S. President Donald Trump hinted at potential trade agreements with India, Japan, and South Korea, and expressed optimism about reaching a deal with China. Concurrently, the outlook for silver's industrial demand faced challenges due to weaker economic indicators from key global economies. Notably, the U.S. economy unexpectedly contracted by 0.3% on an annualized basis in the first quarter, marking its first instance of negative growth in three years. Additionally, China's NBS manufacturing PMI fell to a 16-month low, with export orders experiencing their sharpest decline since 2022.