Silver trading range for the day is 38820-39772.
Silver prices dropped as investors pushed into riskier assets, including stocks, fueled by hope of potential progress toward a resolution in the U.S.-China trade dispute.
U.S. consumer sentiment tumbled in early January to its lowest level since President Donald Trump was elected more than two years ago.
Investors are optimistic about the U.S.-China trade deal despite the fact the Treasury has denied all the recent rumors.
Hedge funds and money managers switched to a net long position in silver in the week to Dec. 18, the U.S. Commodity Futures Trading Commission said.
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