Trade Tensions and Economic Indicators Influence Precious Metals Market

According to BlockBeats, Exinity Group's Chief Market Analyst Han Tan has highlighted the complexities in reaching trade agreements among major economies. Tan noted that as long as there is a risk of escalating global trade tensions or if these tensions remain elevated for an extended period, gold is likely to continue receiving support. The Consumer Price Index (CPI) may offer investors more insight into the Federal Reserve's policy direction. Tan mentioned that the market expects CPI data to rise, which should reduce the likelihood of a Fed rate cut. He also projected that silver prices could reach $38 per ounce in the coming months. Key factors for further price increases include market deficits and a weakening U.S. dollar, with the potential to test $40 per ounce.