Gold Price Up : Bullion Traders Await U.S. Jobs Report

Gold prices rise over 4% in January 2025

Gold Silver Reports (GSR) – The U.S. and China remain headed for the Friday showdown on putting into effect their already-announced trade sanctions against each other. A Chinese official said Thursday the U.S. is firing shots to the world, including itself,” on the trade matter.

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Food Prices Crack Due to Trade War Tensions

Gold Silver Reports (GSR) – In India, the government’s decision to hike minimum support prices (MSPs) has raised the prospect of higher food inflation. But global food inflation may head the other way thanks to fears of an escalating trade war, if data from June is any indication.

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Economic Data Coming up in the European Session – Neal Bhai

0600 GMT – Germany May industrial production data
Prior release can be found here. A minor data point, but will be put together with factory output/orders data to provide a glimpse of sentiment towards the German economy. So far, things haven’t been going well (hence downward GDP forecast revisions) so let’s see if the softness is continuing.

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Equity Investors are Taking US Tariffs in Stride

Gold Silver Reports (GSR) – Not only that, the Nikkei just touched a session high and is up 1.3% on the day too. Risk is rallying across the board as the AUD and NZD are gaining while the JPY is the laggard. Goes to show that investors have been taking in and digesting the trade rhetoric rather well ahead of the implementation today – even with the threat of additional tariffs. 

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