Disappointing data out of the US viz retail sales, nonfarm payroll (considering the downward revision done by BLS) and NAHB housing Index are positive for the yellow metal
The metal peaked at $32.25 in the Asian session and slumped to $31.25 in the US session before recovering sharply in the wake of the Fed Chair Powell's speech
The metal was trading at $2,906, down nearly 0.40 per cent on the day, whereas the MCX April gold contract was changing hands at Rs 85,540, down nearly 0.32 per cent on the day
The recent uptick in gold prices in 2025 has been led by tariff threats by US president Donald Trump, which in turn have seen investors move away from equities to safer havens.
The meeting was originally scheduled for December 1, 2024. A handful of Opec members are set to gradually bring 2.2m b/d of supply back onto the market next year
As industrial commodities remain under pressure due to lack of China's fiscal stimulus and concerns over trade friction, silver will rely on geopolitical development for its upward traction
The metal, closing 3.22 per cent lower at $2625 on November 25, traded between $2,605 and $2,642 on Tuesday and was down by nearly 0.20 per cent to trade at $2,620 at the time of writing this report