Silver prices stabilized above $33 per ounce on Tuesday, recovering from recent declines as trade uncertainties and broader economic concerns fueled demand for safe-haven assets. Hopes that US President Donald Trump may take a more targeted approach to tariffs ahead of the April 2 deadline provided some market relief.
However, his pledge on Monday to impose levies on automobiles, pharmaceuticals, and other industries added to uncertainty. Meanwhile, expectations of further interest rate cuts from the US Federal Reserve also supported silver prices.
Traders are currently pricing in two quarter-point cuts this year—one in June and another in September—while the likelihood of a third cut in December is increasing.
Source: Trading Economics
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