Gold eased about 0.4% to roughly $3,420 an ounce after President Trump’s trade agreement with Japan reduced some concerns about a broader U.S.–Japan tariff dispute.
Even with that pullback, gold is still up roughly 30% year-to-date. The metal’s gains have been driven by ongoing global trade tensions, persistent geopolitical uncertainty, and market expectations that the Federal Reserve may maintain easier monetary policy for an extended period.
Silver also advanced, trading around $39.41 and rising about 36% so far this year. Strong industrial demand—particularly for solar panel manufacturing—along with supply tightness in the London market following earlier U.S. tariff worries have supported silver’s rally.