Silver Rises Over 120% YTD 
After touching its highest level since May 8, gold retreated on Tuesday as the U.S. dollar recovered from a one-month low, making the precious metal more expensive for international buyers. The decline of 0.7% to $3,356.75 per ounce reflects investor caution surrounding evolving U.S. trade policies, including President Trump’s recent accusation that China breached a trade agreement and his plans to double steel and aluminum tariffs to 50%.
The global economic outlook adds another layer of complexity, with the OECD lowering growth forecasts to 2.9% for 2025-2026. As investors navigate these uncertainties, they’re closely monitoring upcoming U.S. non-farm payroll data and Federal Reserve commentary for clues about interest rate direction, which significantly impacts gold’s appeal as a zero-yielding asset. Other precious metals also declined, with silver falling 1.5% and platinum losing 0.6%.
