Silver price is down almost 5% during North American trading hours on Thursday, tests territory below $32.00.

The silver market witnessed a steep decline during North American trading hours on Thursday, driven by President Trump's new reciprocal tariff plan. The white metal, falling nearly 5%, has shown vulnerability amid escalating global trade tensions, sparking investor worries about economic growth. Trump's announcement of a 34% import duty on China exacerbates concerns, particularly affecting silver's industrial demand, pivotal in sectors like EVs, electronics, and solar energy. Analysts highlight the technical indicators that point towards bearish trends, such as the fall below the 20-day EMA and a slump in the 14-day RSI. Future price supports are foreseen near the February 28 low of $30.82. Trade war effects extend beyond silver, impacting markets globally, with ripple effects visible in forex and indices. The U.S. Dollar Index hits a six-month low, while gold, acting as a safe haven, retracts from its peaks. Despite the bearish sentiment, there are technical pointers suggesting a potential rebound if the market holds key support levels. Investors eye the upcoming Nonfarm Payrolls data, which could steer Federal Reserve policy expectations, adding another dimension to market volatility. Analyzed by AI, the article offers insights into geopolitical influences on the silver market, underlining the critical intersection of trade policies and investor sentiment.