New York, Feb 24, 2026, 17:01 EST — Trading after the bell.
Spot silver dipped on Tuesday, with some traders locking in gains following the metal’s climb to its highest level in over two weeks during the prior session.
Silver slipped 1.2% to $87.21 an ounce in early New York trade. Spot gold dropped 1.4%, landing at $5,158.24.
Markets are contending with a changing U.S. tariff environment, and that’s beginning to ripple through rates, currencies, and the usual safe-haven plays. The pullback comes on the heels of those shifts.
The U.S. slapped a provisional 10% tariff on all global imports on Tuesday, with the Trump administration pushing to bump that up to 15%, according to a White House official. “Trade uncertainty was unlikely to go away soon,” said Carsten Brzeski, ING’s global head of macro. Reuters
Sharp, headline-driven swings have already made that uncertainty clear.
U.S. stocks stumbled Monday as tariff tensions escalated, driving a rush into safe plays like gold and Treasuries; silver, too, jumped, Reuters’ “Trading Day” column reported. Reuters
Jim Wyckoff, senior analyst at Kitco Metals, called Tuesday’s drop “just a corrective pullback,” citing the stronger dollar’s pressure on dollar-priced bullion. Business Recorder
U.S. data left the outlook for growth and inflation just as murky as before.
The Conference Board’s consumer confidence index moved up to 91.2 in February, though the proportion of people calling jobs “hard to get” hit its highest mark in five years. “Comments about prices, inflation, and the cost of goods remained at the top of consumers’ minds,” said Dana Peterson, chief economist at the Conference Board. Reuters
Precious metals kept geopolitical worries in play, as investors still tend to reach for them as a risk hedge.
Iran’s foreign minister signaled that a deal with the United States could be close, provided diplomacy takes precedence, with talks scheduled for Thursday in Geneva.
The iShares Silver Trust ETF, often seen as a bellwether for silver exposure, traded at $79.08 in postmarket moves, sliding from its previous $80.57 close.
CME data put the benchmark Comex silver futures at 86.875 an ounce, up 0.35% for the day.
Still, silver seems set to take its cue from broader forces rather than anything intrinsic. Should tariff news quiet down or the Geneva talks manage to ease conflict jitters, the metal’s “safe-haven” appeal could evaporate quickly. A stronger dollar or a bump in bond yields would add to the pressure, given silver bears no interest payments.
Eyes turn to Thursday’s U.S. durable goods numbers, then Friday’s producer price index — a key wholesale inflation gauge — as traders hunt for rate and dollar signals, all while keeping tabs on the Geneva talks.
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