US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
Silver is currently at $36,075, slightly weakening after selling pressure from the broader precious metals market. Fundamentally, this decline was influenced by the easing of global geopolitical tensions, especially after the ceasefire between Iran and Israel, which reduced demand for safe haven assets such as gold and silver. In addition, economic data from China as the largest consumer of industrial metals still shows weakness, especially from the manufacturing sector, which adds to concerns about short-term demand. From the US side, expectations of an interest rate cut by the Fed in...
Silver price slides over 2% to near $35.85 during European trading hours on Friday. The white metal faces a sharp selling pressure due to improvement in trade relations between the United States (US) and China and no signs of Israel-Iran truce violation. During the European trading session, a spokesperson from the Chinese Ministry of Commerce confirmed that Beijing has agreed to expedite exports to rare earths to the US, while Washington will revoke non-tariff barriers. Meanwhile, an increase in Federal Reserve (Fed) dovish bets due to tensions between Donald Trump and Chair Jerome Powell...
Gold fell to $3,280 an ounce on Friday, hitting a four-week low, as fading geopolitical risks and easing concerns about a prolonged trade conflict dampened demand for the safe-haven asset. The U.S. and China are finalizing details of their London trade deal, which will implement the Geneva consensus. Meanwhile, investors continue to assess the prospects for a Fed rate cut, with reports suggesting President Trump may announce his Fed chair nominee as early as September or October, likely favoring a candidate who supports looser monetary conditions. Source: Newsmaker.id
Gold prices were trading around $3,320 per ounce on Friday afternoon, pressured by stronger-than-expected US economic data. A decline in jobless claims and a surge in durable goods orders fueled concerns that the Federal Reserve might delay interest rate cuts. This reduced the appeal of gold, which tends to strengthen when interest rate prospects fall. Despite increasing fundamental pressures, geopolitical and political uncertainty in the US still supports demand for gold as a hedge. The market focus is now on the PCE inflation data to be released tonight. Technically, gold is still holding...
Gold (XAU/USD) attracted some buyers for the second straight day on Thursday (6/26) and maintained its positive bias through the first half of the European session. The US Dollar (USD) selling remained unabated amid reports that US President Donald Trump is considering replacing Federal Reserve (Fed) Chairman Jerome Powell, which raised concerns about the central bank's future independence. Also, bets that the Fed will resume its rate-cutting cycle as early as July dragged the USD to a more than three-year low and benefitted the non-yielding yellow metal. Source: Newsmaker.id