Silver climbed to around $36.20 per ounce on Monday, recouping losses from the previous session as the US dollar weakened amid growing expectations of a more dovish Federal Reserve, rising fiscal concerns, and ongoing trade uncertainty. A softer dollar makes dollar-denominated commodities like silver more attractive to holders of other currencies. Investors are now focused on upcoming US jobs data, which could reveal signs of labor market weakness and reinforce expectations for a rate cut as early as July. Market participants are also closely watching trade developments ahead of President Donald Trump’s deadline next week for the 90-day pause on his sweeping reciprocal tariffs. In a related move, Canada announced it would withdraw its digital services tax targeting US tech firms, following Trump’s threat to halt all trade talks with Ottawa.
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