FX.co ★ Silver Gains as Dollar Weakens Amid Trade Uncertainty

Silver prices experienced an uptick of over 1% on Monday, reaching approximately $32.40 per ounce. This recovery comes after last week's decline, as the U.S. dollar weakened amidst ongoing concerns regarding US-China trade relations. President Donald Trump mentioned he has no current plans to converse with his Chinese counterpart, yet he indicated openness to reduce tariffs on Chinese goods to enhance trade relations. Similarly, China noted last week that it might consider initiating trade discussions with the US, but insisted that the US must first remove all unilateral tariffs to show genuine intent. Market participants are now focused on the Federal Reserve's policy meeting this week, where it is broadly anticipated that interest rates will remain steady. The persistent uncertainty surrounding trade is expected to influence the Fed's perspective. The combination of a softer dollar and geopolitical instability has bolstered the appeal of safe-haven assets, like silver.