Silver fell nearly 1% to $33.3 per ounce on Thursday, cooling off after a 3% surge in the previous session. The drop looks like a technical correction as silver, with its hybrid nature, remains more reactive to economic and trade signals than gold. Recent gains were fueled by shifting US-China trade expectations, but optimism faded after Treasury Secretary Scott Bessent clarified there would be no unilateral tariff cuts and formal talks haven't started. China, meanwhile, wants a pause in US threats before re-engaging, keeping investors cautious.

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