Silver price (XAG/USD) continues its upward momentum, reaching near two-month highs and trading around $31.60 per troy ounce during Asian trading hours on Tuesday.
Safe-haven metals, including Silver, are gaining ground as traders assess the potential impact of uncertain United States (US) trade policies on the global economy.
On Monday, US President Donald Trump announced a temporary suspension of tariffs on Mexico and Canada after their leaders agreed to deploy 10,000 troops to the US border to combat drug trafficking. The tariffs initially imposed two days earlier—25% on Mexican and Canadian goods have been postponed for at least 30 days.
China stands alone in facing the new Trump levies. The world's largest consumer of commodities is due to be hit with across-the-board tariffs of 10% that begin at 05.00 GMT on Tuesday.
Source: FXStreet
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