Silver prices fell to around $30 an ounce on Tuesday (1/28), extending losses from the previous session as the dollar strengthened amid increasing tariff threats from U.S. President Donald Trump. Trump unveiled plans to impose tariffs on imported chips, pharmaceuticals, steel, aluminum and copper in an effort to boost domestic production. Traders also remained cautious ahead of a Feb. 1 deadline for the first round of tariffs targeting China, Mexico and Canada, as previously announced by the president. Meanwhile, investors are preparing for this week's U.S. Federal Reserve policy decision, which is widely expected to keep interest rates unchanged. Additionally, excess capacity in China's solar panel industry has prompted photovoltaic companies to join a government-led self-discipline program, which is expected to curb demand for silver from one of its key industries. (AL)

Source: Trading Economics