Gold traded higher on Thursday (3/13) even as the dollar strengthened after another report showed U.S. inflation eased last month. Gold for April delivery was last seen up $6.20 at $2,953.00 an ounce. The gains came as the U.S. Bureau of Labor Statistics reported the February Producer Price Index (PPI), a measure of wholesale prices, rose at an annualized pace of 3.2% in February, down from 3.7% a month earlier and below the FactSet consensus estimate for a reading of 3.3%. The core PPI, which excludes volatile food and energy prices, fell 0.1% from January, down from a 0.5% gain...
Silver (XAG/USD) price is trading near a monthly high of $33.40 during North American trading hours on Thursday (3/13). The white metal is gaining as easing US consumer and producer inflation pressures pave the way for the Federal Reserve (Fed) to cut interest rates at its June policy meeting. The US Producer Price Index (PPI) report showed that headline and core producer inflation slowed at a faster-than-expected pace to 3.2% and 3.4%, respectively, in the 12 months to February. The headline PPI remained flat month-on-month while the core figure declined by 0.1%. On Wednesday, the US...
Gold prices traded near their highest levels on Thursday, boosted by safe-haven demand amid tariff concerns and a U.S. inflation report that reinforced expectations of future interest rate cuts. Spot gold was up 0.5% at $2,946.68 an ounce, as of 1131 GMT. Bullion hit a record high of $2,956.15 on Feb. 24 amid uncertainty over U.S. tariffs. U.S. gold futures were up 0.3% at $2,956. "Gold prices continue to be supported by the prospect of a tariff-driven economic slowdown, which could potentially accelerate expectations of a U.S. Fed rate cut," said Ole Hansen, head of commodity strategy at...
EUR/USD corrected near 1.0860 during European trading hours on Thursday (3/13). The major currency pair fell as the Euro (EUR) faced slight pressure on a new escalation in a potential tariff war between the European Union (EU) and the United States (US). On Wednesday, US President Donald Trump said that he would respond to the EU's proposed retaliatory tariffs on 26 billion Euros worth of US goods. Trump's comments came just before a meeting with Irish Prime Minister Micheál Martin, after which he said that "there is a big deficit that we have with Ireland and with other countries" and...