FX.co ★ Silver Declines on Profit-Taking

Silver fell more than 2% to below $86 per ounce on Tuesday, snapping a four-session rally as investors locked in profits against a backdrop of ongoing trade uncertainty and elevated geopolitical risk.

The latest catalyst came from global logistics giant FedEx, which filed a lawsuit seeking a full refund of tariffs after the US Supreme Court struck down emergency levies imposed under the Trump administration. On Monday, silver had climbed after Trump threatened to raise global tariffs from 10% to 15% in response to the Court’s decision. The shifting policy stance has intensified fears that existing trade agreements could be destabilized, even though key trading partners have so far kept their deals with Washington intact. Trump also warned of harsher duties on countries that “play games” with current trade arrangements.

On the geopolitical front, attention remains fixed on US–Iran negotiations set to resume on Thursday. Trump reiterated that he favors a diplomatic solution but warned of serious repercussions if a new nuclear deal cannot be reached.