Silver prices slipped to around $33.30 per ounce on Friday, paring gains from earlier in the week as signs of easing in global trade tensions lifted the dollar, pressuring greenback-denominated commodities.
The dollar strengthened as US President Donald Trump claimed that trade talks with China are ongoing, with additional signs of progress in negotiations with Japan and South Korea further boosting investor sentiment.
China is also reportedly considering waiving its 125% tariff on certain US goods, raising hopes of further de-escalation in the trade war. Moreover, Trump made a u-turn on his attacks against Federal Reserve Chair Jerome Powell this week, saying he never had any intention to replace the central bank chief. Meanwhile, Cleveland Fed President Beth Hammack said a move could come in June if supported by data.
Source: Trading Economics
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