Silver prices dipped to around $32 per ounce on Monday, snapping a three-day rally as easing trade tensions reduced demand for safe-haven assets.
The pullback followed US President Donald Trump's decision to exempt key technology products from his newly announced "reciprocal" tariffs, lifting global market sentiment.
China's Commerce Ministry welcomed the exemptions as a "small step," while urging the US to fully remove the broader 145% levy on Chinese goods. Markets are now focused on upcoming trade negotiations between the US and major partners, including Japan, India, and South Korea.
Silver had surged over 8% in the previous three sessions as intensifying trade tensions and concerns over the US economic outlook drove investors toward alternative assets.
Weak US economic data also bolstered expectations for additional rate cuts from the Federal Reserve, adding further momentum to the metal's recent rally.
Source: Trading Economics
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