Gold fell more than 2% on Thursday, easing from an all-time high, as a wider market selloff triggered by U.S. President Donald Trump's import tariffs infected bullion traders. Spot gold fell 1.1% to $3,098.73 as of 10:04 a.m. EDT (1404 GMT) after earlier scaling a record of $3,167.57. U.S. gold futures fell 1.4% to $3,121.90. Traders attributed the dip to some profit-taking and margin calls in other asset classes likely prompting investors selling some of their gold holdings to cover losses. "While the whole tariff imbroglio has weighed on the dollar and should be good for gold, but...
Silver prices fell nearly 5% during North American trading hours on Thursday (03/4), testing the sub-$32.00 region. The white metal prices became vulnerable after United States (US) President Donald Trump unveiled a detailed reciprocal tariff plan for its trading partners. The "Buy the Rumor, Sell the News" indicator forced traders to trigger the sell button for Silver prices. The metal had previously performed strongly, along with Gold, over the past few months as investors grew convinced that Trump's tariffs would be inflationary and weigh on economic growth globally, including in the US....
Gold prices pared losses on Thursday after falling more than 2% from an all-time high, as a broad market sell-off triggered by U.S. President Donald Trump's tariffs on imports caught up with bullion traders. Spot gold fell 0.85% to $3,106.99 by 1:47 a.m. EDT (1747 GMT) after hitting a record high of $3,167.57 earlier in the session. U.S. gold futures settled 1.4% lower at $3,121.70 Traders attributed the decline to some profit-taking and margin calls in other asset classes that likely prompted investors to sell some of their gold holdings to cover losses. "When the market sells off on...
Oil prices plunged on Thursday (03/4) and closed with their biggest percentage drop since 2022, after OPEC+ agreed to a surprise output increase a day after U.S. President Donald Trump announced sweeping new import tariffs Brent crude futures settled at $70.14 a barrel, down $4.81, or 6.42%. U.S. West Texas Intermediate crude <CLc1> settled at $66.95 a barrel, down $4.76, or 6.64%. Brent was on track for its biggest percentage drop since Aug. 1, 2022, and WTI was on track for its biggest drop since July 11, 2022. At a ministerial meeting on Thursday, OPEC+ nations agreed to advance...
During the Thursday (03/4) session, the USD/CHF pair experienced a sharp decline, falling to the 0.8600 region and marking its weakest level in almost six months. The bearish move came amid a broad-based US dollar weakness following President Donald Trump's aggressive announcement of reciprocal import tariffs. The US Dollar Index (DXY) took a heavy hit, falling decisively as traders fled US assets and reallocated portfolios away from the Greenback. Meanwhile, oversold signals from momentum indicators suggest the pair may be poised for a comeback. Tariff shock hits US dollar President...