Silver prices saw a decline on Tuesday, reversing recent gains due to an improved risk appetite among investors. This sentiment shift was largely credited to reduced trade tensions between the US and the EU, especially after President Trump postponed imposing a 50% tariff on EU imports. While this development prompted traders to move away from safe-haven assets, ongoing worries about US fiscal risks continue to lurk, particularly surrounding the potential impact of Trump's tax bill on the federal deficit. Market participants are also looking towards upcoming economic data for further direction.
Silver prices retreated as improved risk sentiment diminished safe-haven demand, influenced by eased trade tensions between the US and EU, driving traders towards riskier assets.
The commitment to accelerate transatlantic negotiations lifted market mood, leading to profit-taking in silver, while long-term bias remains due to supply deficits and industrial demand.
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