Spot Silver lost ground on Friday, but remained not far from a 3-week high of $33.68 per troy ounce, in light of the latest developments on the tariff front.
Media reports stated that some US imports might be exempted from China’s 125% tariffs, with the government asking businesses to identify goods that could be eligible. This was a clear sign of Beijing’s anxiety over the trade war’s economic fallout.
US President Donald Trump assured that trade negotiations with Chinese officials were underway, refuting China’s claims that no talks have taken place.
And, US Treasury Secretary Scott Bessent said this week the current high tariff rates between the US and China were unsustainable and should be lowered before trade negotiations can proceed.
In the meantime, Federal Reserve officials have indicated no urgency to revise the monetary policy, as they awaited more data to determine how the new tariffs were affecting the economy.
Spot Silver was last down 0.68% on the day to trade at $33.35 per troy ounce.
A slightly firmer US Dollar was also weighing on the dollar-priced metal.
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