Silver (XAG/USD) prices remain firm for the second straight session, holding near its highest level since February 2012. The grey metal is trading around $36.16 per troy ounce as it enters the European session on Friday. Precious metals prices, including silver, surged as demand for safe-haven assets increased amid weak economic data from the United States (US), which fueled expectations of a Federal Reserve (Fed) interest rate cut. Weekly Initial Jobless Claims rose to 247,000 on Thursday, above expectations of 235,000.
Gold prices reversed earlier gains and fell by up to 1% after data from Non Farm Payroll showed an improvement in the latest labor data and market views that there is a decrease in tensions in the US-China trade war. Nonfarm Payrolls (NFP) in the United States (US) rose by 139,000 in May, the US Bureau of Labor Statistics (BLS) reported on Friday. This followed a gain of 147,000 (revised from 177,000) recorded in April and slightly better than the market expectation of 126,000. Other details from the report showed that the Unemployment Rate remained steady at 4.2% as anticipated, while the...
Gold was steady on Monday (6/9) — after dropping nearly 2% over the previous two sessions — as the next round of U.S.-China trade talks offered hope that tensions between the two largest economies could ease. Bullion prices were trading above $3,315 an ounce, after falling on Friday as better-than-expected U.S. jobs data eased some concerns about the country's economic slowdown. Top trade negotiators from Washington and Beijing are set to hold fresh talks in London on Monday, with China's dominance in rare earth production a major focus. Source: Newsmaker.id