Silver prices (XAG/USD) are showing a downward trend, hovering close to $29.09 following a drop to $29.20. This decline is attributed to a slight rebound in the US dollar and a shift towards a more optimistic stance in the markets. Despite speculation about a potential rate cut by the Federal Reserve in September, the strengthening US dollar is impacting the price of silver. Moreover, waning concerns about a significant slowdown in the US economy are boosting market confidence, reducing the attractiveness of silver as a safe-haven asset. Nevertheless, the decrease may be temporary as ongoing geopolitical tensions could reignite interest in the metal. Investors are exercising caution as they await the release of the July FOMC meeting minutes on Wednesday and the speech by Fed Chair Jerome Powell at the Jackson Hole Symposium on Friday. While expectations of a dovish Federal Reserve and looming geopolitical risks may offer some support for silver (XAG/USD), preventing further declines.