According to Max Layton, Global Head of Commodities Research at Citigroup Inc, a new series of tariffs by the US administration will lead to a fall in prices of all commodities. In particular, he reckons that copper prices will drop another 8–10% in the coming weeks.
An increase of the indicator value may contribute to the rise in quotes of USD.
The months-long frenzy in the US precious metals market came to an end after the official announcement of the country's administration on the exemption of gold and silver from new trade duties. According to Bloomberg, the price differences between the US and other regions have narrowed sharply.
European stock markets extended their losses Thursday morning following US President Donald Trump’s stronger-than-expected trade tariffs announcements targeting dozens of trading partners, CNBC reports.
On April 2, the cryptocurrency market took a sharp downturn following comments from US President Donald Trump on new tariffs to be enacted. Liquidations across multiple exchanges exceeded $500 million, with XRP also feeling the impact.
More than 3,700 firms in the UK filed for bankruptcy over the past month, according to The Gazette, which publishes announcements of business closures across the country. This is 32% higher than the figures for the same period last year.
According to Bloomberg, Wall Street traders were shocked by the US President's decision to impose tariffs with a minimum rate of 10% for all of America's trading partners. Strategists and money managers are now examining all the details of the new import duties.
Bank of America remains bullish on silver. The experts forecast prices of the metal to average around $35 per ounce this year. Despite a possible rise in silver prices, the gold-to-silver ratio will remain at a high level.
According to Francois Villeroy de Galhau, a member of the ECB Governing Council, the new US tariffs are unlikely to disrupt the ongoing slowdown in EU inflation. The official added that the decline in the CPI strengthens the case for further monetary policy easing by the ECB.
Industrial metal prices, including copper, declined amid concerns that US President Donald Trump’s new tariffs could dampen demand for industrial commodities, Bloomberg reports.
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