Story perspectives

Silver Positions Plummet After Trump’s Tariff Decision

1/18/2026

Summary

Story summary

Money managers reduced bullish silver positions to a near two-year low, 15,045 contracts as of January 13, 2026.
This decline followed U.S. President Donald Trump’s decision not to impose tariffs on critical minerals, including silver.
Silver prices had risen 12% earlier in the week but fell after the tariff announcement.
Analysts say demand remains strong, especially from solar and automotive sectors, but volatility stems from China rules and geopolitics.

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Story summary

Money managers reduced bullish silver positions to a near two-year low, 15,045 contracts as of January 13, 2026.
This decline followed U.S. President Donald Trump’s decision not to impose tariffs on critical minerals, including silver.
Silver prices had risen 12% earlier in the week but fell after the tariff announcement.
Analysts say demand remains strong, especially from solar and automotive sectors, but volatility stems from China rules and geopolitics.