Silver remains under heavy selling pressure for the third straight day on Thursday.Silver (XAG/USD) drifts lower for the third straight day also marking the fourth day of a negative move in the previous five and drops to over a two-week low during the Asian session on Thursday. The white metal, however, shows some resilience below the $32.00 mark, though the technical setup supports prospects for an extension of a one-week-old downtrend.Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's....
The Australian Dollar (AUD) is facing headwinds against the US Dollar (USD) as traders adopt caution ahead of the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers Index (PMI) data from the United States (US) release due later on Thursday. However, the AUD/USD pair received support after the release of Trade Balance data from Australia. The Australian Bureau of Statistics reported a trade surplus of AUD 6.9 billion for March, significantly surpassing expectations of AUD 3.13 billion and the revised February figure of AUD 2.85 billion (down from AUD 2.97 billion). The...
Gold price (XAU/USD) extends its downtrend for the third successive day and drops to over a two-week low, around the $3,221 region during the Asian session on Thursday. Signs of easing trade tensions between the US and China – the world's two largest economies – continue to undermine demand for traditional safe-haven assets and exert downward pressure on the precious metal. Furthermore, the US Dollar (USD) climbs to a two-week top and further contributes to driving flows away from the commodity and the intraday downfall. Meanwhile, the surprise contraction in the US GDP and signs of easing...