Silver declined toward$92 per ounce on Thursday, retreating further from record highs as US President Donald Trump’s latest statements eased market fears of a deeper geopolitical and trade dispute over Greenland. Trump ruled out using military force to acquire Greenland and scaled back tariff threats against European countries after reaching a framework for a future deal with NATO, though details of the agreement remain unclear. Meanwhile, Denmark said it would not enter negotiations to cede its territory to the US, while the European Parliament suspended approval of the EU-US trade deal agreed in July in protest of Trump’s threats. Despite the pullback, silver continues to benefit from persistent physical tightness, with the market facing a fourth consecutive year of global supply deficits, leaving prices highly sensitive to renewed stress in currencies, sovereign debt, or trade policy.