Silver prices strengthened for the second straight day, posting a gain of over 0.48%. It is trading at $32.37 per troy ounce and is set to test the key resistance level at $32.64, a swing high on February 7. Tariffs are the name of the game and the most important driver during the North American session. US President Donald Trump has ordered advisers to draft ‘reciprocal' tariffs on US trading partners. From a technical perspective, Silver is trending higher but will face stiff resistance at $32.64. The Relative Strength Index (RSI) shows that buyers are gathering steam, and if they break...
GBP/USD strengthened on Thursday (2/13), rising more than nine-tenths of a percent to touch the 1.2560 region after economic data came out generally better than expected on both sides of the Atlantic. UK Gross Domestic Product (GDP) beat market forecasts, and US Producer Price Index (PPI) inflation figures eased investor concerns after a surge in consumer inflation this week. US President Donald Trump unveiled his latest idea for raising tax revenues in the face of sharp administrative tax cuts. "Reciprocal tariffs," a plan to impose fees on countries that impose tariffs on US goods, are...
Gold prices rose on Thursday as U.S. President Donald Trump announced plans to impose reciprocal tariffs on countries that tax U.S. imports, raising concerns about global trade. Spot gold rose 0.4% to $2,915.76 an ounce, resuming its record high of $2,942.70 hit on Tuesday. U.S. gold futures settled 0.6% higher at $2,945.40. Trump announced a roadmap on Thursday to impose reciprocal tariffs on any country that imposes duties on U.S. imports. U.S. producer prices rose sharply in January, providing further evidence of rising inflation and reinforcing financial market expectations that the...
Oil prices were mostly steady on Thursday, paring losses of more than 1% earlier in the session, as a potential peace deal between Russia and Ukraine continued to exert downward pressure, but expectations of a pause in new U.S. tariffs fueled optimism. Brent crude was down 17 cents, or 0.2%, at $75.01 a barrel by 11:15 a.m. CST (1715 GMT), while U.S. West Texas Intermediate (WTI) crude was down 1 cent, or 0.1%, at $71.38. U.S. President Donald Trump said in a social media post that he planned to announce reciprocal tariffs on Thursday, which could target any country that imposes duties on...