Silver Falls Below $91, Gold Near $4,600 as Tensions Ease and US Tariff Delay Weighs on Prices

New York | EcoPulse24

Precious metals prices retreated on Friday as some of the factors that previously fueled sharp gains - chiefly heightened geopolitical risks and looming US tariffs on critical metals - began to subside. The United States’ decision to delay new import tariffs on essential metals eased supply concerns that had triggered a rally in silver, copper, and other commodities, as traders rushed to secure shipments ahead of potential duties.

Silver fell below $91 per ounce, resuming a downward path after intense volatility in the prior session. While the latest decline follows Washington’s decision to hold off on import tariffs, silver remains on course for a weekly gain exceeding 13%, underpinned by strong safe-haven demand amid ongoing geopolitical tensions and worries over the Federal Reserve’s independence. Last year, silver was added to the US critical minerals list due to its importance in advanced technologies and clean energy infrastructure, especially solar panels, electric vehicles, and electronics.

Gold prices also slipped slightly to around $4,600 per ounce, extending limited losses from the previous session. The pullback was driven by reduced demand for safe havens and diminished bets on an imminent US rate cut following robust economic data. Temporary de-escalation in the geopolitical landscape, including signals of a delayed military move against Iran, further weighed on gold prices.

Despite these declines, gold is still set for a weekly gain above 2%, marking its second consecutive week of increases and keeping it close to record highs.

Analysis
Recent moves reflect a rapid repricing of risk factors, with the US tariff delay and relative easing in geopolitical tensions removing some short-term momentum. Nonetheless, both gold and silver retain weekly gains, indicating persistent - if moderating - safe-haven demand as market focus gradually shifts toward US monetary policy direction and economic data strength.