Silver prices retreat from a six-day rally, trading at $87.30 ahead of high-stakes US-China trade discussions.
Silver (XAG/USD) erased earlier gains and fell below $87.50 per troy ounce, settling near $87.30 during Asian trading on Thursday. The decline snapped a six-day winning streak as investors adopted a cautious stance ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping.
Prior to the drop, silver had climbed steadily amid expectations of a potential trade deal breakthrough. The metal had outperformed other commodities in the past week, driven by safe-haven demand and a weaker USD. Market consensus had anticipated silver to hold above $87.50 before the meeting.
No immediate market reaction was reported following the price dip, though traders remain focused on the outcome of the Trump-Xi discussions for further direction.