Silver slides as stronger dollar pressures precious metals after historic market turmoil
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Silver prices dropped significantly during Asian trading, falling 17% after a brief rise above $90 an ounce. Currently, silver is trading around $77.01, down over a third from its January high. Gold also struggled to maintain gains due to a stronger dollar impacting investor interest. Analysts suggest that any price recovery may depend on demand from the Chinese market, especially ahead of the Lunar New Year, while geopolitical tensions in the Middle East have not provided enough buying momentum.
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