Hot Commodities: Tariff fears trigger metals rally, silver up over 13% this week

Silver prices slid more than 2% to below $90 per ounce in early Asian trade on Friday as traders booked profits after the metal surged to a record high of $93.7 per troy ounce earlier in the week. The rally was driven by concerns over possible US import tariffs on key minerals, which led to accelerated shipments into the US and pushed silver, copper and other metals to all-time highs. Despite the correction, silver remains on track for a weekly gain of over 13%, supported by strong safe-haven demand amid heightened geopolitical tensions and growing worries about the US Federal Reserve?s independence. In India, MCX silver futures for March eased 0.5% to Rs 2,90,349 per kg, even as physical market prices briefly touched the psychologically important Rs 3 lakh per kg mark, highlighting underlying strength despite near-term volatility.

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