Silver prices held firm around $36.80 per ounce on Tuesday, hovering near 13-year highs as markets assessed the latest US trade policy moves. President Donald Trump announced updated tariff rates on 14 countries that have not reached trade agreements with Washington, including major exporters such as Japan and South Korea, both of which will face 25% levies.
Trump also signed an executive order extending the reciprocal tariff deadline to August 1 from July 9, providing additional time for negotiations. He further warned of a potential 10% tariff on countries aligning with what he called the “Anti-American policies of BRICS,” as the bloc held a summit in Brazil. Meanwhile, a stronger-than-expected US jobs report for June has tempered expectations for near-term interest rate cuts from the Federal Reserve, with markets largely pricing out the possibility of a move in July.
