Silver falls for second straight session

Silver dropped below $77 per ounce on Thursday, extending losses from the previous session as the bullish momentum that had driven precious metals toward record levels earlier this week began to fade.

Prices also retreated as the dollar strengthened, with mixed US economic data offering limited clarity on the Federal Reserve’s policy outlook.

Markets are currently pricing in a nearly 90% probability that the Fed will keep interest rates unchanged at its upcoming meeting, though traders continue to anticipate multiple rate cuts later this year.

On the geopolitical front, investors continued to assess the implications of US intervention in Venezuela and rising tensions between China and Japan, developments that are likely to sustain underlying safe-haven demand.

Still, silver remained close to all-time highs, supported by supply constraints and robust demand from both industrial applications and investment flows.