Gold rose to around $2,940 per ounce on Thursday, approaching record levels, as escalating global trade tensions continued to fuel safe-haven demand. On Wednesday, President Donald Trump warned of additional tariffs on EU goods after the EU and Canada retaliated against existing US trade barriers. Commerce Secretary Howard Lutnick also said that Trump would impose trade protections on copper as well. Meanwhile, both headline and core US inflation came in below expectations, reassuring investors about disinflation progress and giving the Federal Reserve more flexibility for a less...
The US dollar index remained stable around 103.5 on Thursday after gaining ground in the previous session, as investors weighed the impact of an escalating global trade war on the economy and consumers. In the latest developments, President Trump vowed to impose additional tariffs, following retaliatory measures from the EU and Canada in response to his steel and aluminum duties. Trump also reiterated warnings of reciprocal tariffs set to take effect next month, fueling further uncertainty in global markets. Meanwhile, US consumer inflation data released on Wednesday came in softer than...
Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday. The precious metal benefits from growing safe-haven demand amid escalating trade tensions and mounting concerns over a potential United States (US) recession. Trade tensions intensified after US President Donald Trump imposed higher tariffs on steel and aluminum imports, heightening economic uncertainty and boosting Silver's appeal as a safe-haven asset. Trump also described the economy as being in a "transition period,"...