FX.co ★ Silver Steady as Markets Digest US Tariff News

Silver prices remained steady at approximately $36.80 per ounce on Tuesday, maintaining their proximity to the highest levels seen in 13 years. This stability comes as markets carefully evaluate the latest trade policy developments by the United States. President Donald Trump has announced revised tariff rates affecting 14 countries that have yet to secure trade agreements with the US, notably including major exporters like Japan and South Korea, which are now facing 25% tariffs. Additionally, Trump has signed an executive order to extend the deadline for reciprocal tariffs to August 1, instead of the initially set July 9, allowing more time for negotiation efforts. He has also issued a warning about the possible implementation of a 10% tariff on nations he claims are supporting the "Anti-American policies of BRICS," in light of the bloc's summit in Brazil. Concurrently, an unexpectedly robust US jobs report for June has adjusted market forecasts regarding interest rate cuts by the Federal Reserve, with the likelihood of such actions in July now significantly reduced.