Silver Rises Over 120% YTD 
Gold held steady around $3,340 per ounce following a 1.8% weekly decline, as concerns mount that President Trump’s tariff agenda is creating inflationary pressures in the US economy.
The precious metal’s drop came after data showed US wholesale inflation accelerated in July by the most in three years, prompting traders to reduce bets on a Federal Reserve rate cut in September. Higher borrowing costs negatively impact non-interest-bearing gold, while a stronger dollar and rising bond yields following the inflation data added additional pressure.
Market participants are now closely watching upcoming consumer price data to gauge whether companies are passing higher input costs to consumers.
