The dollar gained 0.30% today after President Trump announced a comprehensive trade agreement with the United Kingdom, easing concerns about global trade tensions. The currency’s strength was further supported by better-than-expected US jobless claims and a rise in first-quarter unit labor costs. In response, gold prices fell 0.84% to $3,366.13 per ounce as a stronger dollar and reduced safe-haven demand weighed on the market. Silver moved modestly higher, rising 0.21%, helped by robust German industrial production data that boosted demand for industrial metals. Both precious metals continued to receive some support from persistent geopolitical tensions in South Asia and the Middle East, along with the Bank of England’s recent interest rate cut, which has influenced investor positioning across safe-haven and industrial assets.
