Editor’s Note
Silver prices retreated on Tuesday as traders took profits, underscoring the continued volatility in precious metals markets following a historic sell-off. The metal remains significantly below its January peak.
Silver fell about 2% to below $82 per ounce on Tuesday, breaking a two-day advance as traders locked in profits, while volatility in the precious metals market persisted following a historic rout in recent weeks.
The white metal also remains down about 33% from its all-time high reached on Jan. 29 right before a selloff that wiped out nearly 50% of its value.
Investors are now turning their attention to the delayed US jobs and inflation reports due this week for guidance on the Federal Reserve’s policy path.
The central bank is widely expected to keep interest rates steady in March, with two rate cuts priced in for later in the year.
Other precious metals, including gold, platinum and palladium, also slipped on Tuesday.