Spot Silver pulled back from a 14-year high of $39.53 on Thursday, as trade optimism dented demand for safe-haven metals.
Support from a softer dollar has been offset.
US President Trump announced this week a “massive” trade agreement with Japan, under which the US will impose a 15% reciprocal tariff and Japan will open its market to more US-originated goods.
At the same time, the EU and the US are moving closer to a deal that would impose 15% tariffs on European imports and waive levies on some items.
Also, US and Chinese officials will hold a meeting in Stockholm next week to discuss an extension to the August 1st deadline for securing a trade deal.
The US Dollar Index hovered above a more than two-week low and was last up 0.10% to 97.277. A weaker dollar makes dollar-priced Silver more appealing to international investors holding other currencies.
Spot Silver was last down 0.47% on the day to trade at $39.08 per troy ounce.
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