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“The uncertainty surrounding tariffs and their potential effect on global trade is reinforcing gold’s safe-haven appeal,” said a senior commodity strategist at ANZ.
The upcoming U.S. Consumer Price Index (CPI) report is expected to provide further direction, with markets closely watching inflation trends and the Fed’s policy stance.
Silver Holds Steady as Dollar Strengthens
Silver (XAG/USD) traded at $32.80, slightly above its intraday low of $32.73, as investors weighed mixed market signals. The metal faced pressure from a recovering U.S. dollar but remained supported by expectations of an easier Fed policy.
“Silver is in a consolidation phase, with price action closely tied to inflation data and broader risk sentiment,” noted analysts at Phillip Nova.
A stronger-than-expected CPI reading could bolster the dollar, limiting silver’s upside, while weaker inflation could reignite bullish momentum.
U.S. Dollar Recovery and CPI Data in Focus
The U.S. dollar rebounded ahead of the CPI release, recovering some overnight losses as traders positioned themselves for potential surprises in inflation data. The greenback’s recovery put mild pressure on gold, but broader economic concerns kept bullion’s demand intact.
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