Gold and silver markets displayed mixed movements today, with spot gold retreating from earlier record highs while silver showed modest gains. Spot gold hit an all-time high of $3,245.42 per ounce early in the session but later eased to $3,199.63, down $39.16. The pullback was attributed to reduced safe-haven demand after U.S. President Donald Trump temporarily exempted smartphones and computers from reciprocal tariffs, which slightly improved market sentiment. Nonetheless, the weakening U.S. dollar continues to support gold prices, as it makes the metal more affordable for international buyers. Analysts remain optimistic about gold’s long-term trajectory, with Goldman Sachs raising its year-end forecast to $3,700 per ounce due to strong central bank demand and heightened recession risks.
Silver prices showed some resilience amid broader market volatility, trading at $31.93 per ounce, down 36 cents. The metal has been consolidating after recovering from sharp declines earlier this month, supported by strong industrial demand and ongoing supply constraints. Technical indicators suggest silver has established support at $31.90 while facing resistance near $32.50, signaling potential for further upward movement if macroeconomic conditions remain favorable. The Gold/Silver ratio remains elevated at 100, reflecting gold’s stronger appeal as a safe-haven asset in the current economic climate. Both metals are expected to remain in focus as investors monitor developments in trade policies and central bank actions in the coming days.
