Market Volatility Hits Precious Metals

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

Trump's Tariff Impact

President Trump has implemented a 10% base tariff on all imports, with notably higher rates for key trading partners: China (34%), the EU (20%), and Japan (24%). Additionally, a 25% duty on imported vehicles has taken immediate effect, further unsettling the markets.

Precious Metals Performance

Silver led the decline, dropping 4.07% to $32.51 per ounce. Gold followed, decreasing by 0.69% to $3,111.90. Palladium and platinum also saw losses, falling 1.05% to $966.34 and 1.20% to $948.85 per ounce, respectively.