Silver prices hovered around $36.60 per ounce on Friday and were on track for a weekly loss of about 4%, pressured by a stronger US dollar. The dollar's strength was underpinned by renewed trade tensions after President Donald Trump reaffirmed a 10% global tariff and imposed reciprocal levies of up to 41% on countries without finalized trade deals.
Investors also remained cautious ahead of the July US jobs report, which is expected to guide the Federal Reserve's next policy move. On Thursday, core PCE prices, the Fed's preferred inflation gauge, rose 0.3% in June and 2.8% year-on-year, further muddying the outlook for a potential rate cut in September.
Separately, Trump reignited criticism of Fed Chair Jerome Powell for holding off on rate cuts, ending a brief period of calm between the White House and the central bank.
Source: Trading Economics
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