Silver prices experienced a notable decline following an announcement by former US President Donald Trump, who opted to delay imposing new tariffs on critical mineral imports. Instead, Trump directed his administration to pursue bilateral agreements with international partners to secure adequate supplies and consider price floors, temporarily easing immediate trade disruption risks. This policy shift, which came after a months-long review into whether foreign shipments threatened US national security, caused silver to tumble from recent record highs, with some reports indicating a fall of more than 7%. Gold prices also saw a dip in response to the eased tariff pressure and broader market sentiment. Despite the immediate downturn, the market outlook for silver remains bullish for some analysts. SAMCO Securities, an Indian brokerage firm, maintains a projection that MCX silver rates could reach an impressive ₹3.94 lakh per kilogram. This forecast is based on strong technical indicators, including Fibonacci extensions, and comes amidst a broader commodity supercycle where silver prices have already risen over 25% in 2026. Analysts suggest that while short-term volatility due to policy changes and profit-taking is expected, underlying market dynamics such as constrained physical supply, robust industrial demand, and ongoing policy uncertainty continue to support higher silver prices in the long run. The news is highly relevant for an Indian audience, given the focus on MCX rates and projections by an Indian brokerage.