Market Volatility Hits Precious Metals

Silver prices experienced a dramatic drop, falling more than 4% to below $33.50 per ounce, marking a three-week low. This downturn comes as investors grapple with heightened market volatility in the wake of recent tariff announcements by US President Donald Trump.

Trump's Tariff Shakes Global Markets

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

Precious Metals Take a Hit

The impact on precious metals was immediate and severe. Silver led the decline with a 4.07% drop to $32.51 per ounce. Gold followed, decreasing by 0.69% to $3,111.90. Palladium and platinum also saw declines, falling by 1.05% and 1.20% to $966.34 and $948.85 per ounce, respectively.