Market Turmoil as Silver Hits Three-Week Low

Investors faced significant challenges as silver prices plummeted more than 4% to fall under $33.50 per ounce on Thursday, marking a three-week low. This dramatic shift comes in the wake of market volatility triggered by US President Donald Trump's recent tariff announcements.

Trump's Tariff Impact on Global Markets

In a bold move, President Trump imposed a 10% base tariff on all imports, with significantly higher rates for key trading partners including China (34%), the EU (20%), and Japan (24%). Additionally, a 25% duty on imported vehicles was enacted immediately, further unsettling global markets.

Precious Metals Market Reaction

The repercussions were felt across the precious metals market: Silver saw a 4.07% drop to $32.51 per ounce, Gold fell 0.69% to $3,111.90, Palladium decreased by 1.05% to $966.34 per ounce, and Platinum dipped 1.20% to $948.85 per ounce.