Gold futures rose, gaining on market volatility. Futures were up 1.1% at $2,933 a troy ounce. The precious metal is once again approaching its all-time record of $2,974/oz set in late February. Gold has risen as weak manufacturing data has added to concerns about growth, with President Trump's tariff policies set to worsen the slowdown, SP Angel analysts said in a note. Trade tensions continue to escalate between the U.S. and China following the imposition of U.S. tariffs and Chinese retaliatory levies, which is likely to support gold prices, SP Angel said. Speculation is mounting that...
Silver (XAG/USD) prices were trading 0.5% higher around $32.00 during North American trading hours on Tuesday (04/03). The white metal showed strength as the trade war between the United States (US) and other North American countries, as well as China, has escalated. Canada, Mexico, and China have all hinted at retaliatory tariffs on US imports. On Monday, US President Donald Trump confirmed that tariffs of 25% on Canada and Mexico, and 10% on China would go into effect on Tuesday. Earlier in the day, Canadian Prime Minister Justin Trudeau said that Canada would impose "retaliatory tariffs...
The US Dollar Index (DXY), which measures the Greenback's value against six major currencies, suffers another leg lower on Tuesday, adding to Monday's losses and losing the key support of 106.00. Investors dumped the US Dollar after the US confirmed new tariffs on Canada, Mexico, and China with no last-minute extensions granted. As Canada and China announced countermeasures, further stoking market volatility.US Dollar tumbles amid tariff battleCanada retaliates with 25% tariffs on US goods worth C$30 billion with more to come in three weeks. In line, China pushes back on US tariffs, adding...
Gold price climbs amid a soft US Dollar (USD) as the trade war between the United States (US), Canada, Mexico and China escalates with new tariffs taking effect on Tuesday. Therefore, the plunge of the USD underpins the precious metal. The XAU/USD is trading at $2,918, gaining 0.62%. Market sentiment remains downbeat after 25% tariffs on Canada and Mexico and an additional 10% duties in China took effect around midnight. Consequently, traders seeking safety pushed Bullion prices higher on increased demand, while the Greenback dropped across the board.Meanwhile, recently revealed US data...
Oil prices swooned and settled close to to multi-month lows after reports of OPEC+ plans to proceed with output increases in April and news of U.S. tariffs on Canada, Mexico and China as well as Beijing's retaliatory tariffs. Brent futures settled 58 cents lower, or 0.8%, at $71.04 a barrel. The session low was $69.75 a barrel, its lowest since September. U.S. West Texas Intermediate (WTI) crude fell 11 cents a barrel, or 0.2%, at $68.26. The benchmark previously dropped to $66.77 a barrel, the lowest since November. OPEC+, the Organization of the Petroleum Exporting Countries and allies...