FX.co ★ Silver Falls Further Amid Widespread Selloff

Silver prices declined to approximately $31.50 per ounce on Friday, culminating in a near 8% loss for the week. This drop was largely attributed to escalating global trade and economic concerns, which triggered a broad selloff in financial markets. The decline was spurred by US President Donald Trump’s recent declaration of a 10% baseline tariff on all imports, with significantly higher rates imposed on major economies such as China (54%), the EU (20%), Japan (24%), and India (27%). In response, the affected countries have pledged to implement countermeasures, heightening fears of a tariff-induced global economic slowdown. As a result, equities and commodities experienced significant declines, with investors gravitating towards safer assets like government bonds. Despite this, silver and other precious metals might receive renewed interest as recession concerns intensify, leading traders to increasingly anticipate forthcoming Federal Reserve interest rate cuts.