Silver trades sideways in $32.00–$33.00 range as trade optimism offsets Dollar strength
US-China tariff de-escalation lifts sentiment but pressures safe-haven demand for Silver.
Silver price ended Monday's session with losses of over 0.40% as upbeat news from last weekend's meetings between US and Chinese delegations delivered an agreement to reduce tariffs for 90 days, marking the beginning of negotiations. The XAG/USD trades at $32.56, unchanged as Tuesday's Asian session begins.
Silver price has consolidated within the $32.00-$33.00 range over the last five trading days, amid a lack of commitment from buyers and sellers to push the grey metal upward or downward due to geopolitical uncertainty and the Greenback's volatility.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Source: Fxstreet