Silver prices dropped 1% to approximately $30.20 per ounce on Monday, erasing gains from the prior session as the US dollar strengthened. The rebound in the dollar followed President Donald Trump’s threat to impose tariffs and sanctions on Colombia after the country blocked two US military planes carrying deported migrants, sparking fears of a broader trade conflict. Sentiment was further dampened by weak economic data from China, the largest silver consumer, showing an unexpected contraction in manufacturing activity and a sharp slowdown in the services sector. Additionally, while the US Federal Reserve is expected to keep interest rates steady this week, President Trump is pressuring the central bank to lower borrowing costs immediately.

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