Silver falls after Trump suspends tariffs
Istanbul, Jan. 15 (Hibya) — After U.S. President Donald Trump suspended the imposition of new tariffs on imports of critical minerals, silver suffered a sharp pullback from record highs, falling about 6% on Thursday to below $88 an ounce.
Trump said he would instead seek to strike agreements with foreign countries to ensure the United States has sufficient supplies of critical minerals and to quickly reduce supply chain risks.
However, the White House left the door open to potential import restrictions if satisfactory agreements are not reached in a timely manner.
After Trump said he had received assurances that executions of protesters in Iran had been halted—easing concerns about possible U.S. military action against the country—safe-haven demand for precious metals also declined.
Meanwhile, the latest U.S. economic data had very little impact on expectations for Federal Reserve policy, and concerns about the central bank’s independence also eased.
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