The number of Americans filing new applications for unemployment benefits increased to a seven-month high last week, pointing to softening labor market conditions amid mounting economic headwinds from tariffs.
Safe-haven gold reversed course to fall after U.S. President Donald Trump and Chinese leader Xi Jinping agreed to further talks to settle trade disputes, while silver breached the key $35 level to reach a 13-year high.
The Silver-Dollar pair gained 0.6% in the last session after rising as much as 1.0% during the session. The MACD is giving a positive signal.
Support: 35.019 | Resistance: 36.912
Cracks in the relationship between President Donald Trump and Tesla CEO Elon Musk, his self-proclaimed “First Buddy”, are scaring Tesla shareholders as the two fired salvos at each other in increasingly heated rhetoric, sending shares down
Gold rose 1%, supported by a softer dollar and weak U.S. data, as investors grappled with mounting economic and political uncertainty. The U.S. dollar index fell 0.5%, making gold cheaper for buyers holding other currencies.
The Gold-Dollar pair gained 0.4% in the last session. The ROC’s is giving a negative signal.
Support: 3307.9 | Resistance: 3430.2
The dollar fell across the board after weaker-than-expected U.S. private payrolls numbers highlighted continued easing in the labor market and data showed the U.S. services sector contracted. Trump reiterated his calls for Federal Reserve Chair Jerome Powell to lower interest rates following the data.
The benchmark S&P 500 stock index ended modestly higher, supported by technology shares, but some early gains evaporated as weak data revealed the economic toll taken by President Donald Trump’s erratic trade policies.
