Spot Silver extended pullback from a 14-year high of $39.53 on Friday, as signs of progress in trade talks dented demand for safe-haven metals.
Yet, downside for Silver has been limited by a soft US Dollar.
According to EU diplomats, the EU and the US are moving closer to a possible deal that would impose 15% tariffs on European imports into the US.
Earlier this week, the US announced a trade agreement with Japan, under which the US will impose a 15% reciprocal tariff and Japan will open its market to more US-originated goods.
Offering some support to the industrial metal, the US Dollar Index was set to record its biggest weekly loss in a month, being down 0.80%. A weaker dollar makes dollar-priced Silver more appealing to international investors holding other currencies.
The white metal also remains underpinned by robust industrial demand and persistent supply deficit.
Spot Silver was last down 0.56% on the day to trade at $38.84 per troy ounce.
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