Silver Price Forecast: XAG/USD falls to near $39.00 due to trade deals optimism
Silver price (XAG/USD) extends its losses for the second successive session, trading around $39.10 per troy ounce during the Asian hours on Thursday. The price of Silver struggles due to weakened safe-haven demand, driven by the optimism over further trade deals between the US and key partners.
The Financial Times reported that the European Union (EU) and the United States (US) are closing in on a deal that would impose 15% tariffs on EU goods imported into the US.
Additionally, US President Donald Trump announced on Tuesday a major tariff deal with Japan, which includes a 15% tariff on Japanese exports.
However, some caution remained amid ongoing threats of 15% to 50% tariffs on countries such as South Korea and India, which are still negotiating deals.
Traders also await clarity on talks with China, with Treasury Secretary Bessent scheduled to meet Chinese officials in the week ahead. On the monetary policy front, markets are focused on next week’s Federal Reserve meeting, where rates are expected to be kept on hold, with potential cuts anticipated in October.
Source: FXstreet
