Gold, Silver and Platinum prices see intraday lift amid weak dollar and falling yields
Silver and platinum erase Q1 gains as metals face heavy selling.
Precious metals came under intense pressure following the recent U.S. tariff saga, which triggered broad liquidation across asset classes.
Silver and platinum saw sharp selloffs that erased their entire first-quarter gains, while gold briefly lost its grip on the $3,000 level despite its safe-haven status. Monday’s recovery offers some relief, but volatility remains front and center as investors brace for further trade escalation.
Silver led the selloff. The metal dropped 19% from its quarterly high, wiping out its first-quarter performance. During the Asian session on Monday, silver fell further to a seven-month low of $28.35 before staging a sharp 8% rebound. The recovery stalled near a critical resistance zone at $30.80, and silver now trades around $30.10 during the North American session.
Platinum followed a similar path, erasing its 9% first-quarter gain with four consecutive days of losses. In early Asian trading today, platinum extended its fall to a 12-month low at $897. The $900 psychological level served as a floor, triggering a swift 5% bounce. Platinum is now quoted near $920 in the North American hours, but remains vulnerable to further news on trade retaliation.
Gold, Silver, Platinum price dynamics (Oct 2024 - April 2025). Source: MT4
Gold falls from record highs, recovers to $3,030 amid safe-haven flows
Gold, traditionally seen as a safe-haven asset, also succumbed to selling pressures. The metal slipped from its all-time high of $3,168, piercing through the $3,000 threshold. During the Asian session on Monday, the decline deepened, sending gold to a three-week low of $2,970. It then rebounded sharply but faced resistance at $3,055. Since the European session, price movement has slowed, as gold trades near $3,030 in the North American session.
The broader market environment suggests the pressure on precious metals may be short-lived. Investors initially dumped precious metals alongside equities, likely to cover losses in other portfolios. However, Monday’s session has shown signs of resilience, as falling U.S. stocks, a weaker dollar, and lower Treasury yields helped metals recover intraday.
Market participants are watching closely for any coordinated responses from other nations, particularly China's retaliatory measures. A development that could once again shift demand toward safe-haven metals.
The dollar index fell over 2.8% in early Q2, hitting a six-month low near 101. Recession fears and the upcoming NFP report pressured investor sentiment.
