Silver slides 2% amid progress in Russian-Ukrainian peace talks

Silver prices lost 2% in European trade on track for the first weekly loss in six weeks, as haven demand declines amid progress in Russian-Ukrainian peace talks.

Russian President Vladimir Putin said the discussions with Ukraine took a positive turn with increased progress on the most disputable points. 

Recent Russian-Ukrainian negotiations in Turkey achieved little progress and greatly disappointed the markets.

However, Putin's remarks showed unexpected progress in the peace talks, with Moscow getting concessions from Kiev.

Silver is down 1.5% so far this week on track for the first weekly loss in six weeks away from eight-month highs at $26.95 an ounce.

Silver is down 2% today to $25.41 an ounce, away from the opening of $25.89.

Silver rose 0.5% yesterday, after a 2.3% tumble on Wednesday on the announcement of Russian-Ukrainian peace talks in Ukraine.