- Gold stabilizes in a range as a court decision overturns Trump’s tariffs, increasing risk appetite and depressing the greenback. After the U.S. Court of International Trade determined on Wednesday that Trump had overreached himself by using emergency powers to impose high tariffs on the majority of the nation’s trading partners, gold prices rose.
- On Thursday, the U.S. Bureau of Economic Analysis released its initial update on the country’s first-quarter economic growth. According to the agency, the US GDP decreased by 0.2% over that time, which was less than the 0.4% decline that was anticipated and less than the 0.3% decline that the bureau had initially projected.
- While acknowledging certain stagflation concerns, policymakers pointed out that the Committee may have to make tough trade-offs if inflation turns out to be more persistent and growth and employment prospects deteriorate.
Technical Triggers
Silver prices are expected to trade in the range of $32.5(~Rs 96000) and $34(~Rs 99000) in the near term.
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