Silver Price Forecast: XAG/USD slumps to near $38.00 as US-China tariff deadline looms 

• Silver price loses momentum to around $38.10 in Monday's Asian session. 
• Traders brace for further developments surrounding the US-China trade truce ahead of a deadline.
• Rising Fed rate cut bets might help limit Silver's losses. 

The Silver price (XAG/USD) faces some selling pressure near $38.10, snapping the six-day winning streak during the Asian trading hours on Monday. A firmer US Dollar (USD), profit-taking and optimism surrounding the trade truce between the United States (US) and China undermine safe-haven assets like Silver. 

Traders focus on developments in trade talks between the world's two largest economies ahead of a deadline to avoid the imposition of higher tariffs. US Commerce Secretary Howard Lutnick said on Thursday that it's likely that US President Donald Trump would extend the trade deadline by another 90 days. 

Additionally, US Trade Representative Jamieson Greer stated that the US and China were "working towards" an extension. The positive developments could weigh on the white metal. However, any signs of trade tensions could lift the Silver as traders seek safe-haven assets in an increasingly volatile global landscape. 

Markets will also keep an eye on US inflation data later on Tuesday, which might offer some insight into the Federal Reserve's (Fed) interest rate outlook. Any signs of softer US inflation could boost the chance of more interest rate cuts than previously expected by the Fed and lift the Silver price. Lower interest rates could reduce the opportunity cost of holding Silver, supporting the non-yielding white metal.