Silver prices fell below $33 per ounce on Monday, extending losses from the previous session as easing US-China trade tensions strengthened the dollar and dampened demand for safe-haven metals. Last week, US President Donald Trump signaled openness to lowering Chinese tariffs, while Beijing exempted certain US goods from its 125% levies.
Washington is also holding further trade talks with other major economies this week including Japan and South Korea.
Meanwhile, China expressed confidence in meeting its full-year growth target of around 5% but refrained from introducing immediate stimulus, opting to first assess the impact of the escalating trade dispute with the US. Investors are also looking ahead to key US economic data this week, which could cement expectations for earlier Federal Reserve rate cuts.
Source: Trading Economics
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