Silver price slides over 2% to near $35.85 during European trading hours on Friday. The white metal faces a sharp selling pressure due to improvement in trade relations between the United States (US) and China and no signs of Israel-Iran truce violation.
During the European trading session, a spokesperson from the Chinese Ministry of Commerce confirmed that Beijing has agreed to expedite exports to rare earths to the US, while Washington will revoke non-tariff barriers.
Meanwhile, an increase in Federal Reserve (Fed) dovish bets due to tensions between Donald Trump and Chair Jerome Powell regarding the monetary policy stance has failed to offer support to the Silver price. Fed dovish bets escalate as investors expect Trump's preferred Powell's successor will support his economic agenda.
Silver price when this news was released -198% or traded at $35.88/ Tozz.
Source: Newsmaker.id
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