Silver prices fell around 1% to approximately $36.50 per ounce on Monday, pulling back from near 13-year highs as President Donald Trump effectively extended the deadline for reimposing his sweeping reciprocal tariffs—dampening safe-haven demand. Treasury Secretary Scott Bessent stated that tariffs would revert to April 2 levels for countries that haven’t secured a deal with the US by that date, allowing more time for trade negotiations. So far, only China, the UK, and Vietnam have reached partial agreements with Washington. However, Trump threatened a 10% tariff on countries aligning with what he described as “anti-American policies on BRICS.” Adding to pressure on silver, a stronger-than-expected US jobs report for June reduced expectations for near-term Federal Reserve rate cuts.