Silver prices pared earlier losses to trade near $32.60 an ounce on Wednesday, as a weaker-than-expected U.S. GDP report for Q1 2025 fueled fears of a fresh recession amid ongoing trade tensions. The U.S. economy shrank by 0.3% in the first quarter, missing expectations for growth of 0.3%, largely due to a more than 40% surge in imports, as businesses and consumers stocked up on goods ahead of anticipated tariff hikes from the Trump administration. Source: Newsmaker.id
Gold prices were trading at $3247 early in the Asian session on Thursday (1/5) this was accompanied by news that the Trump administration was close to announcing the first phase of a deal that would reduce planned tariffs on several countries also easing some concerns about the global trade outlook. The easing of the US-China tariff war has caused the price of Gold to be at a normal level. Source: Newsmaker.id
Silver remains under heavy selling pressure for the third straight day on Thursday.Silver (XAG/USD) is trading lower for the third straight day, marking the fourth day of negative movement in the previous five, and dropped to a more than two-week low during the Asian session on Thursday. However, the white metal is showing some resilience at the bottom even though the technical setup supports prospects for an extension of the one-week-old downtrend.As of this writing, Silver is trading at $31,993 Source: Newsmaker.id