Silver prices retreated on Thursday, trading 3% lower from their previous close on the Chicago Mercantile Exchange (CME), after briefly surpassing the $50 per ounce mark earlier this week to hit an all-time high.
The recent surge came amid heightened economic uncertainty and a U.S. government shutdown, which fueled safe-haven demand alongside gold. However, traders booked profits following the record rally, pulling prices back.
As of the latest session, silver futures were down 3% on the CME, hovering just below the $49 per ounce level. Earlier, the metal had touched a historic high of $50.03 per ounce, driven by speculative inflows and tightness in global supply.
Market analysts noted that while silver continues to benefit from strong investment and industrial demand, volatility may remain elevated as investors weigh geopolitical tensions and potential U.S. Federal Reserve rate cuts later this year.