Silver Prices Plummet as Dollar Rebound Triggers Trader Sell-Off

Silver fell to around $58.50 an ounce on Friday after a modest rebound in the US dollar prompted traders to trim positions.

The metal was down about 0.8% at $58.52 in early trade, snapping a brief recovery following the Federal Reserve's decision to keep interest rates unchanged.

Unlike gold, silver trades as both a monetary asset and an industrial input, leaving it exposed to the dollar, manufacturing expectations, and speculative positioning.