Silver prices reached a new year-to-date low before recovering slightly on Friday, according to FX Street. The XAG/USD pair gained 0.84% on the day but remains on track to close the week down by over 6.50%.
The price of silver fell as low as $54.77 per troy ounce during the week, before bouncing back to around $56.00 per troy ounce on Friday. This marks a significant weekly decline amid broader market volatility.
For Japanese investors, the recent weakness in silver prices comes as global risk sentiment and currency fluctuations continue to impact precious metals, which are often viewed as safe-haven assets in times of uncertainty.