Spot Silver pulled back from a 3-week high of $33.68 per troy ounce on Thursday, as investors likely took profits after yesterday’s 3.3% rally.
Developments on the tariff front continued to be in the spotlight.
US Treasury Secretary Scott Bessent said yesterday that the current high tariff rates between the US and China were unsustainable and should be lowered before trade negotiations can proceed.
US President Donald Trump said the updated tariff rates for China could be determined within the next two to three weeks. Still, Trump also suggested that a trade agreement was not strictly necessary.
At the same time, media reports stated the Trump administration was planning to exempt auto makers from certain tariffs after intense lobbying by industry executives.
Meanwhile, the International Monetary Fund warned that the tariffs would slow economic growth and increase debt globally.
Spot Silver was last down 0.75% on the day to trade at $33.32 per troy ounce.
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