Spot Silver retreated more than 1% on Tuesday, tracking losses in other precious metals, as the US Dollar rebounded from a one-month low, while anxiety over the US fiscal outlook persisted.
The US Dollar Index bounced off 98.694, a level not seen since April 22nd, being last up 0.40% to 99.323.
A firmer dollar makes dollar-priced Silver less appealing to international investors holding other currencies.
Last week, US House of Representatives passed a version of President Trump’s tax-cut bill, which is estimated to add nearly $3.8 trillion to the government’s $36.2 trillion debt over the upcoming ten years.
Meanwhile, US President Donald Trump has rescinded his threat to impose a 50% tariff on EU imports in June and extended his deadline for trade negotiations until July 9th.
This week, investor focus will likely be on US PCE inflation figures for more clues on the Federal Reserve’s interest rate trajectory.
Additionally, a host of Fed officials are expected to make speeches, which will also be closely watched for policy cues.
Spot Silver was last down 1.40% on the day to trade at $33.01 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 
