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Silver Price Forecast: XAG/USD rally hits pause as US says no to tariffs on critical minerals
Key Takeaways (30s Read)
Silver prices drop over 2% as the US defers tariffs on critical minerals, pausing recent rally.
Silver prices are trading over 2% lower, around $90.40 during the Asian session, after hitting a fresh all-time high near $93.90 on Wednesday. The recent rally has hit a pause following the US government's decision to defer tariffs on critical minerals. This decision could influence market sentiment, leading to a temporary adjustment after the strong demand and supply constraints that previously drove prices higher. Key support levels at $90.00 and $89.50 will be crucial for market participants to watch; a breach below these levels could signal further declines.
AI Analyst
AI Opinion
"The silver market is currently experiencing a pause in its recent upward trend due to significant news. The US decision to defer tariffs has a direct influence on supply and demand dynamics in the market. Investors are keenly watching whether key support levels hold amidst this short-term correction. Future market movements will likely depend on responses to global economic indicators and policies regarding other precious metals."
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