Silver to $39.50: Up 9.4% Past 30 Days
Gold prices steadied after the U.S. and European Union reached a new tariff agreement, calming fears of a full-blown trade war. The deal—set to impose 15% tariffs on most EU exports including cars—has left investors cautiously optimistic but still uncertain about how it may impact metals specifically.
Meanwhile, anticipation builds around a possible extension of the U.S.-China trade truce and this week’s Federal Reserve meeting. While the Fed is expected to hold interest rates steady, traders are watching for clues about the future of monetary policy. Lower rates typically boost gold since it doesn’t pay interest.
Despite a slight weekly dip, gold remains up over 25% for the year, with ongoing geopolitical tensions and economic uncertainty driving demand. Spot gold hovered around $3,338 an ounce, with silver and other precious metals also seeing modest gains.
