FX.co ★ Silver Slides Amid Easing US-China Trade Tensions

Silver prices declined to below $33 per ounce on Monday, continuing a downward trend from the prior trading session. This drop came as diminishing US-China trade tensions bolstered the US dollar, thus reducing the appeal of safe-haven metals. Recently, US President Donald Trump indicated a willingness to reduce tariffs on Chinese imports, while China eased its own tariffs on specific American goods by removing them from its list subject to a 125% levy. Furthermore, the US is engaging in additional trade negotiations with other major economies, such as Japan and South Korea, this week. In another development, China expressed optimism in achieving its annual growth target of approximately 5%. However, it chose to hold off on implementing immediate economic stimulus measures, deciding to first evaluate the consequences of the intensifying trade conflict with the United States. Investors are also anticipating crucial US economic data releases this week that could solidify forecasts for upcoming Federal Reserve interest rate reductions.