Silver prices slipped below $87 per ounce on Thursday, pulling back from Wednesday’s three-week high of $91.30, as fading geopolitical risk premiums and a firm interest-rate outlook outweighed ongoing trade uncertainty. Signals of potential progress in US–Iran nuclear talks from negotiators in Geneva tempered immediate safe-haven demand that had buoyed prices the previous day.
Further pressure came from a resilient US dollar, after January’s PCE inflation held at a sticky 3%, reinforcing expectations that the Federal Reserve will leave interest rates unchanged. On the supply side, regional selling intensified as traders took profits after a roughly 3% weekly gain, opting to wait for more clarity on the administration’s plan to lift global tariffs under Section 122 from 10% to 15%. The prospective shift in trade policy follows a February 20 Supreme Court ruling that struck down earlier emergency duties.
