Gold price (XAU/USD) falls after initially hitting a fresh all-time high at $3,167 in the early Asian session. Traders are starting to take profit, pushing the Bullion price to $3,130 at the time of writing on Thursday.
Silver prices (XAG/USD) fell on Thursday, according to FXStreet data.
Outlook is unclear; Euro (EUR) could continue to trade in a choppy manner vs US Dollar (USD), probably between 1.0810 and 1.0955.
Euro (EUR) jumped post-tariff announcement. Reciprocal tariff rate of 20% on EU was largely in line with street’s estimates. EUR was last seen at 1.0964 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
EUR/USD is net around 0.9% higher after the trade announcement. The main buying point for the euro is that it's a big, liquid alternative to the US Dollar – and that the dollar's troubles (weaker US consumption) are greater than the Euro's, ING's FX analyst Chris Turner notes.