Silver prices fell around 2% to $35.60 per ounce on Friday, marking a third consecutive session of losses as traders took profits following a sharp rally that pushed prices to over 13-year highs. Investors also sold precious metals to cover losses elsewhere, as an escalating conflict in the Middle East spurred widespread selloffs. Additionally, the US Federal Reserve held interest rates steady this week and reiterated a cautious, data-dependent approach, warning that President Donald Trump’s new tariffs could fuel inflation and complicate the economic outlook. On the supply front, sentiment was further pressured by confirmation of a major discovery in Argentina—one of the largest copper, gold, and silver deposits in three decades—estimated to hold 13.2 million tons of copper and over 80 million ounces of gold and silver combined.
