Spot Silver surged on Monday, reversing a loss from Friday, supported by a softer US Dollar amid renewed trade tensions.
US Treasury Secretary Scott Bessent said over the weekend President Donald Trump would impose tariffs at the rate he pledged in April on trading partners, who do not negotiate in “good faith”.
A softer US Dollar was also providing support to the white metal. The US Dollar Index was last down 0.55% to 100.424.
A weaker dollar makes dollar-priced Silver more appealing to international investors holding other currencies.
Last week, Silver retreated more than 1% following the US-China trade agreement, which to an extent alleviated global trade anxiety.
Moody’s lowered US’ top sovereign credit rating by one notch (from Aaa to Aa1) last week, as the agency cited concerns over the country’s rising debt. The downgrade placed Moody’s assessment in line with the other major credit rating firms.
Market participants are now setting their focus on upcoming public comments from several Federal Reserve officials, including Raphael Bostic, John Williams and Lorie Logan.
Spot Silver was last up 0.81% on the day to trade at $32.53 per troy ounce.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
