Silver prices held below $38 an ounce on Friday after falling more than 1% in the previous session, as hotter-than-expected US producer inflation dampened hopes for a significant Federal Reserve interest rate cut in September. Weekly jobless claims also came in at 224,000, below the 228,000 forecast, indicating some labor market resilience. The market still rates more than a 90% chance of a 25 basis point cut next month, but the chances of a larger 50 bps move have been erased. Source: Newsmaker.id
Gold's appeal is increasing as traders prepare for the Federal Reserve's interest rate decision on May 7. Over the weekend, Trump again expressed his dislike for the Fed and its Chairman Jerome Powell. After calling Powell "rigid", the US President asked members of the Federal Open Market Committee (FOMC) to pressure Chairman Powell to cut interest rates. When this news was released, the price of Gold was moving at the level of $ 3296, seen from the fundamental side, Gold still has the impetus to increase. Source: Newsmaker.id
Silver (XAG/USD) prices halted a four-day decline, trading near $32.10 during the Asian session on Monday (5/5). The precious metal regained ground as ongoing uncertainty surrounding the US-China trade talks fueled safe-haven demand. As of this writing, Silver is trading at $32,409 Source: Newsmaker.id
Gold rose again above $3,260 an ounce on Monday, as uncertainty surrounding U.S.-China trade talks supported demand for the safe-haven asset. On Sunday, President Donald Trump said he believed China wanted to make a deal, though he did not provide details or a timetable. Last week, Beijing said it was evaluating starting trade talks but reiterated that any negotiations would require certain preconditions to be met. In addition, the U.S. dollar weakened, making gold more attractive to buyers holding other currencies. Source: Newsmaker.id
Gold rose on Friday (2/5) as investors rushed to buy the metal a day after prices hit a two-week low amid easing trade tensions, while market focus shifted to the U.S. nonfarm payrolls report due later in the day. Gold hit its lowest level since mid-April in the previous session and has fallen nearly 2% so far this week, its sharpest weekly decline since late February. Source: Newsmaker.id
Silver prices fell in early trading on Friday. Easing trade tensions between the US and its trading partners have reduced demand for safe-haven assets, weighing on the silver metal.US President Donald Trump announced a potential trade deal with India, South Korea and Japan, seeking to turn his tariff policies into a trade agreement. Furthermore, Chinese state media said late Thursday that the US has contacted China to start trade talks over Trump's 145% tariffs.As of this writing, Silver is at $32,471 Source: Newsmaker.id