Silver price (XAG/USD) edges lower after reaching $39.39, the highest since September 2011, and currently trading around $39.20 per troy ounce during the Asian session on Wednesday. The price of Silver comes under pressure due to dampened safe-haven demand, driven by a wave of trade deals. United States (US) President Donald Trump announced a trade deal with Japan that includes a 15% tariff on Japanese exports to the US. As part of the agreement, Japan will invest $550 billion in the US and open its markets to key American products. President Trump said during a meeting with the...
The GBP/USD pair extends the rally to near 1.3525 during the early European session on Wednesday. The US Dollar (USD) remains weak against the Pound Sterling (GBP) as impending US President Donald Trump's tariff deadline looms. Investors will keep an eye on the preliminary reading of UK Purchasing Managers Index (PMI) reports, which are due later on Thursday. Uncertainty over tariff policy and concerns over the Federal Reserve (Fed) independence weigh on the Greenback. Investors brace for Trump's tariffs on top trading partners to take effect next month on one hand and bet that Trump will...
Gold eased on Wednesday as risk appetite improved after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline, though a soft dollar and lower Treasury yields capped losses for greenback-priced bullion. Spot gold was down 0.2% at $3,422.95 per ounce, as of 0459 GMT, after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.2% to $3,436.10. Trump said the U.S. and Japan had struck a trade deal that includes a 15% tariff that will be levied on U.S. imports from the country. U.S. and Chinese officials...