Gold prices fell on Friday (5/16) heading for a weekly decline of more than 3%, as easing global trade tensions weakened its appeal as a safe haven asset. The U.S. and China recently agreed to temporarily reduce tariffs for 90 days, easing concerns about the long-term impact of their trade conflict. Geopolitical risks also appeared to ease, with the India-Pakistan ceasefire remaining stable. Source: Newsmaker.id
Silver eased from its recent gains seen in the previous session, settling around $32.50 during Asian trading hours on Friday (5/16). The metal came under pressure, possibly due to a Financial Times report suggesting that the Trump administration is planning to add several Chinese semiconductor companies to its export blacklist, known as the "entity list." Silver's growing association with the chipmaking industry—due to its critical role in the production of electronics and semiconductors—has heightened the market's sensitivity to the development. Source: Newsmaker.id
Gold prices are moving lower and struggling to hold near the $3,200 level at the time of writing on Friday (05/16) as many questions and concerns arise in the market and among traders. First and foremost, the Ukraine-Russia talks seemed dead and buried even before Ukrainian President Volodymyr Zelenskyy shook hands with Turkish President Recep Tayyip Erdoğan on the runway in Ankara. Russian President Vladimir Putin did not attend in person and only sent a few low-level diplomats, which was seen as Russia taunting and bullying Ukraine. As of this writing, Gold prices are at $3,205Source:...