Silver retreated from a record high, with a technical indicator showing that a six-day rally pushed the metal into overbought territory. Gold also edged lower.
The white metal traded about $1.70 below its all-time high after sliding as much as 2.4% earlier in the session. Traders have been betting on continued supply tightness and on expectations for another US interest-rate cut — a tailwind for nonyielding precious metals.