Core Viewpoint - Silver prices have retreated from historical highs due to profit-taking by investors and the absence of new import tariffs on key minerals by the U.S. government [1][3]. Group 1: Price Movements - On Thursday, silver prices dropped by 7.3% but recovered most of the losses later [1][3]. - Silver prices had previously surged over 20% in the four trading days leading up to the drop, reaching a record high of $93.75 per ounce [1][3]. Group 2: U.S. Government Actions - President Trump decided against imposing comprehensive tariffs on key minerals, including silver and platinum, opting instead for bilateral negotiations and the idea of setting price floors [1][3]. - This decision followed months of investigation into whether imports posed a national security threat to the U.S. [1][3]. Group 3: Market Implications - Concerns over potential tariffs had previously led to a situation where some metal supplies, including silver, remained in U.S. warehouses, contributing to a global short squeeze last year and supporting prices into 2026 [1][3]. - Daniel Ghali, a senior commodity strategist at TD Securities, noted that the U.S. government's approach indicates a more targeted decision-making process in the future, alleviating fears of broad actions that could impact physical metal prices [1][3]. Group 4: Current Market Conditions - The New York Commodity Exchange currently holds approximately 434 million ounces of silver, an increase of about 100 million ounces compared to a year ago [4]. - Christopher Wong, a strategist at OCBC, expressed a positive mid-term outlook for silver, citing factors such as supply gaps, industrial consumption, and spillover demand from gold, while also advising caution due to the rapid recent price movements [4].

Group 1 - The international silver price has risen significantly this year, with an increase of over 100% and briefly surpassing the important threshold of $60 per ounce [1] - The rise in silver prices is closely linked to changes in global macroeconomic expectations, particularly the potential for the Federal Reserve to ease monetary policy due to weakening economic data in the U.S. [1] - The supply situation for silver has also changed, with a reduction in freely circulating inventory as large investment products have been accumulating physical silver, leading to increased demand for spot silver [1] Group 2 - Domestic investment sentiment has stabilized compared to earlier periods, with a decrease in the "hoarding silver" phenomenon as prices rise, indicating a more rational approach from consumers and investors [2] - Industry opinions on future silver price trends are mixed, with some international institutions optimistic about maintaining strong prices if industrial demand remains robust, while others warn of high volatility and sensitivity to policy changes [2] - Short-term silver prices are expected to fluctuate around global monetary policy expectations, while medium-term trends will depend on changes in physical supply and demand, and long-term performance will hinge on stable industrial consumption growth [2]

Group 1 - The international silver price is currently trading above $60.84, with a recent increase of 0.60% to $61.01 per ounce, indicating a short-term bullish trend [1] - Since the end of August, silver has experienced unprecedented upward momentum driven by multiple factors including global supply chain issues, strong industrial demand, and renewed investor interest [3] - The London Bullion Market Association (LBMA) silver inventory has increased by 1,447 tons year-to-date, while the New York Commodity Exchange (Comex) inventory has risen by 4,311 tons, contributing to market liquidity [3] Group 2 - The international silver price has successfully broken through a key monthly trading resistance level around $58.80-$58.85, signaling a strong continuation of the upward trend [3] - The Relative Strength Index (RSI) for silver has entered the overbought territory on both 4-hour and daily charts, suggesting a potential need for short-term consolidation or moderate pullback to digest recent gains [4]