Silver hovered around $37.4 per ounce on Tuesday, holding gains from the past two sessions as dovish Federal Reserve expectations continued to support precious metals. The rally followed a weaker-than-expected US jobs report, which reinforced market bets for a rate cut in September. Traders are now pricing in over 60 basis points of easing by year-end. Investors are closely watching upcoming economic data, including June trade figures and the ISM PMI, for further insight into the US outlook. On the trade front, President Donald Trump threatened sharply higher tariffs on India over its continued purchases of Russian oil, while the EU opted to delay retaliatory tariffs against the US for six months to allow more time for negotiations.