Gold price (Yellow Metel) extends its upside during the early European trading hours on Friday. The growing concerns about US President Donald Trump’s tariff plans provide some support to the precious metal. Additionally, a decline in US bond yields across the curve contributes to the yellow metal’s upside.
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Silver softens ahead of US CPI report
Silver remained below $31 an ounce on Wednesday as investors awaited a key US inflation report that could provide further clarity on the Federal Reserve’s monetary policy direction.
Volatility in gold and silver prices will continue this week
“We expect gold (XAU/USD) and silver (XAG/USD) prices to remain volatile this week amid volatility inthe dollar index and concerns over the US tradewar and ahead of US Fed chairman’s testimony,”.
Donald Trump announces 25% tariff on steel, aluminium imports into US
US President Donald Trump announced new 25% tariffs on all steel and aluminium imports into the country, marking a significant escalation in his trade policy. Speaking to reporters aboard Air Force One en route to the NFL Super Bowl, Trump revealed that the official announcement will come on Monday.
Gold hits new low near $2,859 after NFT
Gold prices on Friday pared early gains after the release of the US labor market report for January 2025 and closed near $2,859.88 an ounce.
What to expect from the next Nonfarm Payrolls report?
Economists expect non-farm payrolls to increase by 170,000 jobs in January after a 256,000-job increase in December. The unemployment rate (UE) is likely to remain at 4.1% over the same period.
India left China behind in gold purchase
The demand report said that “by far the biggest contributor to the weakness in volumes has been China.” On an annual basis, a review of past gold demand reports shows that India’s gold demand was higher than China’s for the first time since 2012.