[ad_1]
The easing of trade tariff concerns under President-elect Donald Trump and geopolitical tensions further reduced gold’s safe-haven demand. However, the potential for a rate hike by the Bank of Japan next week added pressure, keeping the metal within a tight trading range.
Despite these challenges, gold is on track for its third consecutive weekly gain, as investors await critical U.S. housing data for fresh direction.
Silver Pressured Amid U.S. Dollar Strength
Silver (XAG/USD) slipped to $30.68, tracking mild losses as a stronger U.S. Dollar and mixed market sentiment weighed on the precious metal.
Unlike gold, silver lacks the same safe-haven allure, yet it remains supported by positive commodity market sentiment.
Inflationary concerns could still bolster silver prices, especially if economic uncertainties persist.
U.S. Economic Data Supports Mixed Outlook
U.S. inflation eased in December, fueling speculation of up to two Federal Reserve rate cuts this year. Retail sales rose 0.4%, while November’s data was revised upward to 0.8%, signaling resilience in consumer spending.
[ad_2]
Source link
