Gold & Silver Take a Breather After Breaking Records - Will They Continue to Rise or Start to Fall?|
Gold and silver prices experienced a slight correction after surging to new records the previous day. After the euphoria of commodity buying intensified, the market now appears to be taking profits—but the trend hasn't completely reversed.
At the start of the Asian session, spot gold was around $4,610/oz. In the latest update, gold fell 0.4% to $4,609.15/oz. Meanwhile, silver also retreated, falling as much as 2.2% and finally down 1.1% to $92.1280/oz.
This correction follows a rather "wild" metal rally on Wednesday, when gold and silver both set new peaks, followed by gains in other metals such as copper and tin. The main driving force came from aggressive buying in China and investors' shift to commodities as an alternative to other financial assets.
On the policy front, concerns about US tariffs on silver, platinum, and palladium have eased. This is because President Donald Trump has not yet imposed new duties on imports of critical minerals—although he is still keeping the option open, according to an official statement released Wednesday evening.
In the currency market, the Bloomberg Dollar Spot Index is tending to be stable. This means that the current weakening of gold and silver feels more like a cooling phase after a strong rally, rather than a sudden sharp strengthening of the dollar.
Key points:
- Gold and silver corrected after setting records the previous day.
- Gold fell 0.4% to $4,609.15/oz; silver fell 1.1% to $92.1280/oz (having previously been -2.2%).
- Yesterday's rally was fueled by heavy buying in China and investors' shift to commodities.
- Concerns about US tariffs on precious metals have temporarily eased because Trump has not imposed new duties, but options remain open.
- The Bloomberg Dollar Index is relatively stable, so the correction is more like profit-taking after the rally. (asd)
Source: Newsmaker.id
