Silver Under Pressure as Trade Deals Curb Haven Demand
Silver prices remained under pressure on Monday, holding below $38.50 per ounce after falling more than 2% in the previous session, as recent trade agreements between the US and key partners dampened demand for safe-haven assets.
Over the weekend, the US and European Union reached a trade deal that imposes a 15% tariff on most EU exports, down from the 30% previously threatened. The US also secured agreements last week with Japan and Indonesia.
Meanwhile, markets are awaiting further developments in US-China trade talks, set to begin later today in Stockholm, with expectations that discussions will go beyond tariffs to include broader geopolitical and economic issues.
Investors are also eyeing the Federal Reserve’s policy decision on Wednesday, where it is widely expected to keep rates unchanged, though attention will focus on any signals pointing to a potential rate cut in September.
Source: Trading Economics
