Silver Drops Further

2026-01-16 16:13 By Felipe Alarcon 1 min. read

Silver tumbled over 4% to below $88.7 per ounce on Friday, extending a sharp pullback after the previous session’s volatility as the US decision to refrain from imposing tariffs on critical minerals removed a key driver from the market.

Earlier in the week, the threat of potential US import levies had triggered an aggressive rally across commodities, with silver and other metals surging to record highs as traders rushed shipments into the US to get ahead of possible tariffs.

The decline was amplified by broader profit-taking across precious metals amid easing geopolitical tensions and a firmer US dollar that reduced the appeal of non-yielding assets.

Even so, silver remains on track for a weekly gain of more than 10%, supported by the earlier tariff-driven surge and ongoing demand linked to its strategic role in clean energy and advanced technology applications.



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