Silver prices held steady around $36 per ounce on Tuesday following a strong performance in June, underpinned by a weaker dollar amid bets on deeper Federal Reserve rate cuts, rising fiscal concerns, and persistent trade uncertainties. A softer dollar typically boosts demand for dollar-denominated commodities like silver by making them more affordable to foreign buyers. Investors are now turning their attention to upcoming US jobs data, as signs of weakness in the labor market may strengthen the case for a rate cut as early as July. Meanwhile, market participants are closely monitoring the...
Gold price (XAU/USD) builds on the previous day's goodish recovery from the $3,248-3,247 region or a one-month trough and gains positive traction for the second successive day on Tuesday. The momentum remains uninterrupted through the early part of the European session and lifts the bullion to a multi-day peak, around the $3,340 area in the last hour. The US Dollar (USD) remains depressed on the back of the growing acceptance that the Federal Reserve (Fed) would resume its rate-cutting cycle in the near future. Adding to this, concerns about the worsening US fiscal conditions drag the USD...
The Swiss Franc is one of the strongest G8 performers, amid higher demand for safe havens as risk aversion increased during Tuesday's European market session. The USD/CHF, as a result, has extended its decline to fresh 14-year lows at the 0.7900 area. US President Trump's comments highlighting the challenges to cut a trade deal with Japan and Treasury Secretary Bessent's threats of higher tariffs from July 9 have crushed risk appetite on Tuesday. In the US, the uncertainty about Trump's sweeping Tax bill, which is expected to add another $3.3 trillion to an already high US debt load, is...