Silver & Gold Higher

SILVER

March silver futures are higher on Friday, after U.S. President Donald Trump urged the Federal Reserve to lower interest rates. While most expect the Fed to keep rates steady at its policy meeting next week, markets are anticipating a rate cut in June, with another potential reduction by year-end. President Trump’s reluctance to impose aggressive tariffs since taking office has contributed to a weaker U.S. dollar, driving up demand for safe-haven metals.

In addition, persistent supply concerns, particularly in London vaults, along with improving industrial demand, especially from the manufacturing sector, continue to fuel a positive outlook for silver.

GOLD

February gold futures are higher and are trading at the highest level since November 1 after President Donald Trump called for an immediate interest rate cut. This enhanced gold’s appeal as a safe haven asset, with lower interest rates making the non-yielding precious metal more attractive. Gold is on track to post its fourth consecutive weekly gain.

Traders continue to focus on safe-haven assets, remaining cautious due to uncertainties surrounding President Trump’s proposed tariffs and immigration policies.

The weaker U.S. dollar also helped propel gold prices higher. Also, investors are keeping a close eye on policy moves from global central banks.

In the longer term view, the precious metal remains supported by expectations of continued central bank buying.

COPPER

March copper futures traded near the 4.390 level in the overnight trade before giving back most of the gains.  Major copper producer Freeport-McMoRan missed its fourth-quarter production targets and warned of a sharp decline in first-quarter output. The company attributed the setbacks to plant maintenance and challenges in Indonesia, including damage to its smelter from a fire last year, which has caused lengthy repairs and ongoing negotiations with the Indonesian government to extend a temporary copper processing export agreement.

Copper prices were also supported by President Donald Trump’s decision to hold off on imposing new tariffs following his inauguration, which helped ease fears of a global trade war. In addition, President Trump urged the Federal Reserve to lower interest rates, which boosted market optimism.

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