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Copper edges higher, tariff worries investors

“The market is really trying to understand how aggressive these potential tariffs could be and I think the problem is no one really knows the answer,” said Nitesh Shah, commodity strategist at WisdomTree.

Alastair Munro, senior base metals analyst at Marex, said copper found some support from contrarian buying from some Commodity Trade Advisor (CTA) investment funds, which are largely driven by computer programs.

Source – Reuters / Live Mint

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    Silver forecast at $32.55

    Silver began the week with modest gains, stabilizing above its 50-day moving average at $32.55—a level now serving as short-term support. The metal also finds backing from a key Fibonacci retracement at $32.19.

    Source – FX Empire

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    Gold prices rise higher, tariff concerns

    Gold prices ticked higher on Tuesday as focus turned to U.S. jobs and inflation data, that could influence the Federal Reserve’s policy decision in the face of rising economic growth concerns. 

    Spot gold (XAUUSD:CUR) +0.93% to $2,911.21 an ounce after hitting its lowest since March 3 in the previous session.

    Meanwhile, worries over Trump’s tariff policies have also pushed safe-haven gold to a record high of $2,956.15 on February 24, as the metal is seen as a hedge against political risks and inflation.

    Source – Seeking Alpha