Silver prices remained around $30.30 per ounce on Tuesday, following a more than 3% decline in the previous session, as demand for safe-haven assets like precious metals faded.
The pullback came amid reports that Israel and Hezbollah were nearing a ceasefire agreement, which helped ease tensions in the Middle East.
Market sentiment was further bolstered by the nomination of Scott Bessent as US Treasury Secretary, which brought a sense of stability to investors. Bessent, who has stated that Trump's goal is not to trigger inflation, also suggested that any new tariffs should be phased in gradually.
Meanwhile, US President-elect Donald Trump reaffirmed plans to impose additional tariffs on China, Mexico, and Canada, raising concerns over escalating global trade tensions.
Source: Trading Economics
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