Silver Slips on Stronger Dollar, Yields

Silver prices slipped to around $36.50 per ounce on Wednesday, marking their third consecutive decline, as a stronger US dollar and rising Treasury yields weighed on precious metals. The moves came amid renewed concerns over US trade policy following a series of aggressive tariff announcements from President Donald Trump. He ruled out any extension to the newly imposed tariffs targeting 14 countries, set to take effect on August 1. He also unveiled a 50% tariff on copper imports and threatened to impose levies of up to 200% on pharmaceutical imports, though implementation would be delayed by 12 to 18 months to allow for industry adjustments. Meanwhile, investors are awaiting the release of the latest Federal Open Market Committee minutes for clues on the Federal Reserve’s policy outlook. A stronger-than-expected US jobs report for June has dampened hopes for imminent rate cuts, further supporting the dollar and yields—both typically bearish for silver.