Silver prices fell by more than 31% on Friday, following a broader sell-off in precious metals.
Silver prices fell by more than 31% on Friday, following a broader sell-off in precious metals. The decline came after President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair. Investors reacted to the shift in market conditions, selling metals and reducing risk exposure. Spot silver tanked 39% to $74 per troy ounce after touching a record high of $121.60 earlier in the week. Silver could continue its rally if supply tightness persists and geopolitical risks remain elevated. Technical indicators indicate that the market is overbought, increasing the likelihood of short-term corrections.
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