Gold, Silver Prices Dip: Profit-Taking After Trump Eases Tariff Pressure on Minerals

• Gold and silver prices experienced profit-taking after US President Donald Trump postponed new import tariffs on essential metals, including silver.
• Spot gold fell 0.8% to $4,584.03 per ounce, while US gold futures dropped 1% to $4,587.70.
• Spot silver plunged 5.6% to $87.46 per ounce, retreating from its all-time high of $93.57.
• Trump indicated tariffs are not immediate but could be imposed later, proposing bilateral agreements and a price floor for critical minerals.
• Despite the current dip, long-term expectations include potential Fed rate cuts by July and year-end, which could support precious metals.

Why It Matters: Gold and silver saw profit-taking as Trump delayed tariffs, but future rate cuts could still support prices.