Silver prices fell towards $32.2 per ounce, extending their decline from the over three-month high of $33.39 reached on February 14th, amid ongoing uncertainty over demand, driven by concerns about US tariff policy.

Investors also awaited key economic data and events due later this week. Markets are particularly focused on Friday's release of the January PCE Price Index, the Federal Reserve's preferred inflation measure.

Projections indicate a 0.3% month-over-month increase in PCE prices, with annual gains of 2.4% for the headline index and 2.6% for the core index. Additionally, speeches from Federal Reserve officials could provide further insight into upcoming interest rate decisions.

Source: Trading Economics