Silver (XAG/USD) recovered recent losses from the previous session, trading around $33.70 per troy ounce during Asian hours on Thursday (3/27). The metal gained traction as investors sought safe-haven assets following the announcement of US auto tariffs, which have raised concerns over potential retaliatory measures next week. The risk-off sentiment increased after US President Donald Trump signed an order late Wednesday imposing a 25% tariff on auto imports, effective April 2, with billing starting the following day. However, imports of auto parts will receive a one-month reprieve. In...
Gold prices rose on Thursday as U.S. auto tariffs escalated global trade tensions ahead of an April 2 deadline for reciprocal tariffs from the world's largest economies. Spot gold rose 0.4% to $3,030.47 an ounce by 0247 GMT. U.S. gold futures rose 0.5% to $3,036.00. U.S. President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks starting next week, widening a global trade war. Investors are concerned that Trump's retaliatory tariffs, expected to take effect on April 2, could stoke inflation, slow economic growth and escalate trade tensions. Concerns over...
Oil prices edged up on Thursday on concerns about tighter global supplies following U.S. tariff threats on Venezuelan oil buyers and earlier sanctions on Iranian oil buyers, while traders weighed the impact of U.S. President Donald Trump's auto tariffs. Brent crude futures rose 7 cents, or 0.1%, to $73.86 a barrel. U.S. West Texas Intermediate crude futures rose 10 cents, or 0.1%, to $69.75 a barrel by 0406 GMT. Oil prices rose about 1% on Wednesday on government data showing U.S. crude and fuel inventories fell last week, and on U.S. tariff threats on countries that buy Venezuelan crude....