Silver fell more than 6% in its biggest drop in six months as the broad precious metals group retreated following a furious rally this week.

The pullback came as concerns eased over credit quality in the US and trade frictions between China and the US, which is denting haven demand for gold and silver.

President Donald Trump’s remarks on Friday soothed anxiety around trade tensions while solid results from regional banks helped stablize the stock market and lift bond yields. Higher rates typically are negative for bullion, which doesn’t pay interest.

A historic squeeze in the silver market in London is also showing signs of easing, prompting some profit-taking by investors.

“The London shortage is alleviating somewhat from extreme levels and the more regional dislocations smooth out, t

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