Silver prices fell 0.5% to near $36.50 during the European trading session on Friday (August 1). The precious metal faced selling pressure as the confirmation of tariff agreements by the United States (US) with several of its major trading partners, such as Japan, the European Union (EU), South Korea, and others, as well as growing investor confidence that Washington will reach a deal with China, has reduced demand for safe-haven assets, such as silver. Safe-haven assets have performed strongly since US President Donald Trump's announcement of tariff policies, which aim to reduce the...
Oil prices were little changed on Friday (August 1st) and headed for weekly gains, as investors weighed the impact of further tariffs and sanctions from US President Donald Trump. Brent crude futures rose 19 cents, or 0.26%, to $71.89 per barrel at 08:23 GMT. US West Texas Intermediate crude futures rose 20 cents, or 0.29%, to $69.46 per barrel. Oil prices stabilized on Friday after falling more than 1% in the previous session. However, for the week, Brent is expected to rise 5%, and WTI around 6.6%. Investors have been focused on the potential impact of US tariffs on oil prices this week,...
The dollar headed for its strongest weekly performance in nearly three years against major currencies, maintaining momentum on Friday (August 1st) after US President Donald Trump imposed new tariffs on dozens of trading partners. Some currencies of the hardest-hit countries, such as Switzerland, which now faces 39% tariffs, fell sharply. The Swiss franc hit its weakest level in six weeks, while the Canadian dollar headed for its seventh straight weekly decline. The dollar also strengthened against other currencies due to factors other than tariffs. The yen headed for its biggest weekly...