FX.co ★ Silver Rises Amid US-China Trade Hopes

Silver prices surged closer to $33 per ounce on Monday, building on last week's upward momentum as traders reacted to encouraging developments in the U.S.-China trade discussions. Over the weekend, delegates from both nations convened in Switzerland and reported notable progress in their talks. A joint statement, anticipated to be released later today, is expected to outline the initial agreements, which may include tariff reductions. In contrast to gold, which declined due to a reduction in demand for traditional safe-haven assets, silver benefited from a broader rally in assets sensitive to market risks. This potential breakthrough in trade negotiations also enhanced the outlook for silver's industrial demand, particularly given its essential role in the renewable energy industries of both the United States and China.