Trading Trump will be even harder in year two

NEW YORK – Investors’ confidence in an erratic political leader went about as well as could be expected. Prison operators and fossil-fuel extractors were among the most hotly anticipated stock-market beneficiaries as Donald Trump prepared to re-enter the White House. They turned out to be two of the worst-performing industries. As the US president takes a sledgehammer to the world order underpinning the country’s dominance, it will be twice as hard to make money by trying to interpret policy.

Few things played out as predicted after Trump took office exactly one year ago. US tariffs didn’t do the damage many foresaw, leaving market prognosticators wrong-footed yet again, as they were when oil and gas shares more than doubled under renewable-energy champion Joe Biden and healthcare companies defied the odds under Barack Obama. Similarly, GEO Group, a correctional facility builder, has lost nearly 50% of its value and energy giant ConocoPhillips 8% since Trump’s return.

Instead, Big Tech has benefited. Artificial intelligence contributed to seven of the 10 best performances among S&P 500 Index constituents over the past 12 months. Hard-drive manufacturer Western Digital led the way. Entertainment empire Warner Brothers Discovery also thrived, thanks to a USD 100 billion bidding war being waged by Netflix and Paramount Skydance at least partly because of the administration’s looser approach to trustbusting.

Even when it comes to M&A, however, Trump meddles in unpredictable ways that trip up investors. His United States Steel golden share is a case in point, while deals involving railway operator Union Pacific and TV broadcaster Tegna continue to hang in the balance. Big US banks also rallied thanks to laxer regulation, but the president’s recent call to cap credit-card interest rates at 10% caught many observers off-guard. A thawing relationship with JPMorgan CEO Jamie Dimon also may re-freeze after the president threatened to sue the mega-lender for allegedly discriminating against him after the January 6, 2021, protests on Capitol Hill.

Aggression against Greenland, Venezuela, Iran, and allies in Europe is the latest geopolitical development to tempt the search for alpha. Good luck with that, as it becomes harder to tell just how much Trump’s mercurial efforts to upend the United Nations and NATO will erode a peace dividend that fortifies US markets and the dollar’s reserve-currency status.

Strategists at Goldman Sachs, for one, recommend deglobalization investments, such as US-focused manufacturers and defense contractors, along with gold. As with the many and varied ideas espoused by money managers last January, there is sound logic behind the choices. And inevitably, Trump will render many of them spectacularly wrong.

CONTEXT NEWS

The S&P 500 Index has gained nearly 15% from January 20, 2025, when Donald Trump was inaugurated for his second term as US president, through January 16, 2026.

(By Stephen Gandel; editing by Jeffrey Goldfarb; production by Maya Nandhini)

Wall Street ends lower amid global selloff on Trump Greenland tariff threats

All three major Wall Street indexes closed well down on Tuesday, joining other global stock markets in a broad selloff triggered by concerns that fresh tariff threats from President Donald Trump against Europe could signal renewed market volatility.

The risk-off wave helped vault gold to fresh record highs, knocked stocks lower globally, and left US Treasuries wobbling under renewed selling pressure.

According to preliminary data, the S&P 500 lost 143.12 points, or 2.04%, to end at 6,798.48 points, while the Nasdaq Composite lost 559.44 points, or 2.38%, to 22,955.94. The Dow Jones Industrial Average fell 869.18 points, or 1.76%, to 48,490.15.

Trump said on Saturday additional 10% import tariffs would take effect on February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Great Britain — all already subject to US tariffs.

The tariffs would increase to 25% on June 1 and continue until a deal was reached for the US to purchase Greenland, Trump wrote in a post on Truth Social. Leaders of Greenland, an autonomous territory of Denmark, and Denmark have insisted the island is not for sale.

UNCERTAINTY RISES

The reinjection of tariff threats into global markets harkens back to April’s “Liberation Day,” when Trump’s levies on global trade partners pushed the S&P 500 to near bear market territory.

The CBOE Volatility Index, also known as Wall Street’s fear gauge, spiked to a two-month high.

While investor sentiment was frayed on Tuesday, the question being asked now is whether Greenland is a short-term jolt triggering a knee-jerk selloff, or something more substantial that will have longer implications for markets.

Jamie Cox, managing partner at Harris Financial Group, said he was not seeing indications that investors were fleeing.

“I’m not at the point yet where I’m willing to say what is happening with Greenland, and the resurgence of the tariff threat back and forth, is going to precipitate a correction in the equities markets,” he said, adding he would be surprised if there was a 3% to 5% drop this week.

BOND MARKETS SPILLOVER

A potentially more significant action, in Cox’s eyes, would be whether Japanese authorities intervene in financial markets.

Japanese government bonds plunged on Tuesday, sending yields to record highs, while Tokyo stocks and the yen also fell after Prime Minister Sanae Takaichi’s call for a snap election shook confidence in the country’s fiscal health.

The moves helped push the cost of longer-term government bonds higher in other countries, including in Europe, with Greenland adding momentum, given the possibility of greater defense spending in Europe.

US Treasuries fell on Tuesday, with the selloff more pronounced on the long end of the curve.

Despite the geopolitical uncertainty around Greenland weighing on US equities sentiment, the US economy remains in a strong position.

Investors are due a host of fresh data this week on the state of the US economy, including the third-quarter US GDP update, January PMI readings, and the Personal Consumption Expenditures report, which is the Federal Reserve’s preferred inflation gauge.

Earnings season is also kicking into higher gear. Several industry bellwethers, including Intel and Netflix, are set to report their quarterly earnings this week.

(Reporting by Sruthi Shankar and Pranav Kashyap in Bengaluru and David French in New York; Editing by Krishna Chandra Eluri and Rod Nickel)

Gold notches record above USD 4,700/oz, silver hits all-time high

Gold climbed to another record high on Tuesday, scaling the unprecedented USD 4,700 an ounce milestone as escalating geopolitical tensions boosted safe-haven demand, while silver also broke above USD 95 for the first time.

Spot gold gained about 2% to USD 4,757.33 per ounce by 01:52 p.m. ET (18:52 GMT), after reaching a record high of USD 4,765.93 earlier in the day. US gold futures GCcv1 for February delivery settled 3.7% higher to USD 4,765.80/oz.

“Gold has surged deeper into uncharted territory as investors hedge against rising political risk,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.

“A softer dollar is providing an additional tailwind for precious metals, reinforcing gold’s rally at a time when confidence in US assets appears to be wobbling.”

Wall Street’s main indexes slid to a near three-week low on Tuesday, as investors were spooked by renewed tariff threats from President Donald Trump against Europe over control of Greenland.

The remarks have heightened tensions ahead of Trump’s expected meeting with global business leaders in Davos, Switzerland, on Wednesday.

The US dollar was set for its largest daily fall in over a month, making greenback-priced gold more affordable for overseas buyers.

Gold, seen as a safe store of value during economic and political instability, soared 64% in 2025 and has added another 10% since the start of the year. The metal’s rally has also been supported by expectations of US interest rate cuts, which reduce the opportunity cost of holding non-yielding bullion.

Markets are pricing in two rate cuts of 25-basis-points from mid-2026, while focus intensified after US Treasury Secretary Scott Bessent said Trump could name a new Federal Reserve chair as early as next week.

“USD 4,800 and USD 4,900 are the next obvious reference points (for gold), with the key USD 5,000 handle standing out as the longer-term psychological target,” Razaqzada added.

Spot silver slipped 0.3% to USD 94.38/oz, after hitting a record USD 95.87 earlier. The white metal added about 147% in 2025 and has gained more than 32% since the start of 2026.

Elsewhere, spot platinum added 2.3% to USD 2,429.60/oz, while palladium was up 1.1% at USD 1,861.61.

(Reporting by Sarah Qureshi in Bengaluru; Editing by Shailesh Kuber)

Dollar lower as investors reignite ‘Sell America’ trade

NEW YORK – The dollar was set for its largest daily fall in over a month on Tuesday, after White House threats to Europe over the future of Greenland triggered a broad selloff across US stocks and government bonds, and drove the euro and the pound higher.

The dollar index, which measures the US currency’s performance against a basket of six others, fell as much as 0.7% – marking its biggest one-day drop since mid-December – as investors worried about exposure to US markets.

On Monday, US President Donald Trump’s renewed tariff threats against European allies prompted a repeat of the so-called “Sell America” trade that emerged after last year’s “Liberation Day” tariff announcement in April, with stocks, Treasury bonds and the dollar all declining.

Investors were dumping dollar assets on “fears of prolonged uncertainty, strained alliances, a loss of confidence in US leadership, potential retaliation and an acceleration of de-dollarization trends,” said Tony Sycamore, market analyst at IG in Sydney.

“While there are hopes the US administration may soon de-escalate these threats, as it has with prior tariff announcements, it is clear that securing Greenland remains a core national security objective for the current administration,” he added.

The euro was last up 0.57% at USD 1.1711, while the pound gained 0.01% to trade at USD 1.34. Sterling got a minor additional lift earlier in the session from UK labor market data that showed unemployment remained at a five-year high, but also offered positive signs such as vacancy numbers plateauing.

The S&P 500 and Nasdaq Composite dropped to their lowest points in a month on Tuesday, as investors returned from the US long weekend and reacted negatively to the fresh tariff threats.

The risk-off wave, which also pushed the Dow Jones Industrial Average to its lowest intraday level since January 5, left US Treasuries wobbling under renewed selling pressure.

“We knew that some stock markets like the U.S … were all at elevated, stretched levels. So who knew what the pinprick was going to be? But we found it,” said Marc Chandler, chief market strategist at Bannockburn Capital Markets.

Weekly data from the US markets regulator show investors have trimmed their largest long, or bullish, holdings of euro futures modestly, but that position is still close to its largest since mid-2023, which in theory means there could be appetite to sell.

The yen, which slid overnight as a selloff in Japanese government bond markets accelerated, picked up as European trading got underway, leaving the dollar at 158.280.

Japanese Prime Minister Sanae Takaichi has called snap elections for February 8 and has pledged a wave of measures to loosen fiscal policy, which has unnerved investors in Japanese sovereign bonds about the country’s fragile public finances.

The Swiss franc, a key beneficiary of any safe-haven flows, strengthened for a third straight day, leaving the dollar down 0.88% at 0.7902 francs.

Against the Chinese yuan trading offshore in Hong Kong, the dollar was steady at 6.9576 yuan, its weakest since May 2023. The People’s Bank of China left benchmark lending rates unchanged for an eighth straight month in January, as expected by analysts polled by Reuters.

The Australian dollar was last up 0.27% to USD 0.673, while the New Zealand dollar climbed 0.54% to USD 0.583, its highest level this year.

(Reporting by Hannah Lang in New York; additional reporting by Amanda Cooper in London and Gregor Stuart Hunter; Editing by Andrew Heavens, Emelia Sithole-Matarise, Mark Heinrich, and Andrea Ricci)

Dollar at week low as geopolitics revive ‘Sell America’ trade

SINGAPORE – The dollar retreated to its lowest level in a week in early trading on Monday after threats from the White House towards the European Union over the future of Greenland triggered a broad selloff across US stocks and government bonds.

The dollar index, which measures the greenback’s strength against a basket of six currencies, slid 0.1% to 99.004 – its lowest level since January 14 as investors worried about exposure to US markets.

On Monday, US President Donald Trump’s renewed tariff threats against European allies triggered a repeat of the so-called “Sell America” trade that emerged after last year’s Liberation Day tariff announcement in April, with stocks, Treasury bonds and the dollar all selling off. US markets will return on Tuesday following a public holiday for Martin Luther King Jr. Day.

The yield on the US 10-year Treasury bond was up 3.0 basis points at 4.2586%. Fed funds futures are pricing an implied 94.5% probability that the US central bank will remain on hold at its next two-day meeting next week, little changed from Friday, according to the CME Group’s FedWatch tool.

Against the yen, the dollar was flat at 158.175 yen after Japanese Prime Minister Sanae Takaichi called snap elections for February 8. Her vow to suspend an 8% sales tax on food for two years has focused attention on the country’s shaky public finances.

Against the Chinese yuan trading offshore in Hong Kong, the dollar was holding steady at 6.9536 yuan. Later on Tuesday, the People’s Bank of China is expected to leave benchmark lending rates unchanged for an eighth straight month in January, a Reuters survey showed.

The Australian dollar was down 0.1% at USD 0.6710, while the New Zealand dollar slipped 0.1% to USD 0.5794, edging back from a two-week high.

The euro was flat at USD 1.1640, while the British pound was also steady at USD 1.3427.

Bitcoin was off 0.6% at USD 92,336.99, while ether fell 1.1% to USD 3,174.41.

(Reporting by Gregor Stuart Hunter; Editing by Shri Navaratnam)

PRECIOUS-Gold and silver hit record highs as Greenland dispute spurs safe-haven buying

Gold hits record $4,689.39 an ounce

Silver reaches record peak of $94.10

Dollar slides on trade war risk

Updates prices

By Pablo Sinha

Jan 19 (Reuters) – Gold and silver hit record highs on Monday, driven by a flight to safety after U.S. President Donald Trump warned of extra tariffs on some European countries in a dispute over Greenland.

Spot gold XAU= jumped 1.6% to $4,669.69 an ounce by 10:08 a.m. ET (1508 GMT), after scaling a record peak of $4,689.39.

U.S. gold futures GCcv1 for February delivery advanced 1.7% to $4,675 an ounce.

Trump threatened several European allies with a series of escalating tariffs on Saturday unless the U.S. is allowed to buy Greenland, intensifying a dispute over Denmark’s vast Arctic island.

“When institutional and policy risks resurface, markets tend to react swiftly by reallocating toward safe-haven assets, with gold once again emerging as the preferred choice,” said Linh Tran, senior market analyst at XS.com.

Stock markets and the dollar fell as Trump’s latest tariff threats raised investors’ appetite for safe-haven gold, the Japanese yen and Swiss franc in a broad risk-averse move across markets. MKTS/GLOB USD/

Gold tends to do well during times of geopolitical and economic uncertainty, as well as when interest rates are low. It gained more than 64% in 2025 and is up more than 8% since the start of this year.

Meanwhile, Federal Reserve Vice Chair for Supervision Michelle Bowman said on Friday that a fragile job market with the potential to weaken quickly means the U.S. central bank should stand ready to cut interest rates again if needed.

Markets expect the Fed to leave rates on hold at its meeting over January 27-28 but are pricing in at least two cuts of 25 basis points this year. FEDWATCH

Elsewhere, spot silver XAG= climbed 4.4% to $93.93 an ounce after hitting a record high of $94.10. Silver has risen more than 31% since the start of the year.

Analysts at Citi Research said they remain tactically bullish on precious metals, setting price targets of $5,000 an ounce for gold and $100 an ounce for silver in the next three months, citing geopolitical tensions that are likely to stay elevated in the near term.

In other metals, spot platinum XPT= added 2% to $2,374.85 an ounce while palladium XPD= rose 1.2% to $1,820.50.

(Reporting by Pablo Sinha in Bengaluru
Additional reporting by Sarah Qureshi
Editing by Alexander Smith and David Goodman)

((Pablo.Sinha@thomsonreuters.com;))

UPDATE 7-Oil steadies as Iran supply fears ease and Greenland moves into spotlight

Iran unrest subsides, lowering risk of US attack

Greenland sovereignty dispute affecting US-Europe relations

Trading activity muted due to US public holiday

Updates prices; adds new commentary in paragraph 9

By Amanda Stephenson

CALGARY, Jan 19 (Reuters) – Oil prices steadied on Monday as civil unrest in Iran subsided, reducing the likelihood of a U.S. attack that could disrupt supplies from the major producer, while market-watchers turned their attention to a stand-off over Greenland.

Brent crude LCOc1 was up one cent, or 0.02%, at $64.14 a barrel by 1946 GMT. West Texas Intermediate CLc1 for February was flat on the previous day’s settlement at $59.44 a barrel.

Trading activity was muted due to a U.S. federal holiday.

Iran’s violent crackdown has quelled protests that officials say killed 5,000 people. U.S. President Donald Trump, meanwhile, seems to have stepped back from earlier threats of intervention.

“With fears around Iran subsiding over the last few days after rumours of a U.S. attack, the market is now focusing on the Greenland situation and how deep any fallout between the U.S. and Europe could be, as any trade war expansion could impact demand,” said Rystad analyst Janiv Shah.

Trump has intensified his push to wrest sovereignty over Greenland from fellow NATO member Denmark, threatening punitive tariffs on countries that stand in his way and prompting the European Union to weigh hitting back with its own measures.

EU leaders will convene in Brussels on Thursday for an emergency summit, a European Union spokesperson said on Monday.

As Greenland does not produce oil, there is no direct connection for crude markets, said Commodity Context founder Rory Johnston. But the row over the island is a broadly risk-off development for investors, he said, pointing to Monday’s selloff in equity markets.

Global stocks dropped and the dollar eased against the safe-haven yen and Swiss franc on Monday on concerns about a possible trade war between the U.S. and Europe.

The market was also looking at the risk of damage to Russian infrastructure and distillate supplies at a time when colder weather is forecast to cross North America and Europe, adding to market unease, said PVM Oil Associates analyst John Evans.

In the longer term, the crude market will continue to face downward pressure from an increase in Venezuelan oil on the U.S. Gulf Coast, while a new forecast from the International Monetary Fund predicting stronger economic growth in 2026 should increase demand expectations, said Phil Flynn, senior analyst for the Price Futures Group.

“The market is going to be locked in by competing bullish and bearish forces, leading to a sort of sideways trade,” Flynn said.

(Reporting by Amanda Stephenson in Calgary, Robert Harvey and Seher Dareen in London, Mohi Narayan in New Delhi and Colleen Howe in Beijing; Editing by Kirsten Donovan, David Goodman and Edmund Klamann)

((amanda.stephenson@thomsonreuters.com))

Dollar under pressure, safe havens rise as Trump ups tariff ante over Greenland

SINGAPORE – The dollar fell on Monday and investors unnerved by US President Donald Trump’s latest tariff threats against Europe over Greenland piled into the safe-haven yen and Swiss franc, in a broad risk-averse move across markets.

Trump said over the weekend he would impose an additional 10% import tariff from February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Britain, until the United States is allowed to buy Greenland.

Major European Union states decried the tariff threats over Greenland as blackmail on Sunday, with France proposing to respond with a range of previously untested economic countermeasures.

In the foreign exchange market, the initial knee-jerk reaction in early Asia trade was to sell the euro EUR= and sterling, in a move that pushed them to a seven-week low and one-month trough of USD 1.1572 and USD 1.3321, respectively.

However, the two currencies bounced from their lows, and it was the dollar that came under pressure as the trading day got underway, as investors assessed the longer-term implications of Trump’s latest move on the greenback’s standing.

That helped the euro reverse its losses as it gained 0.17% to trade at USD 1.1618, while the British pound similarly recovered 0.1% to USD 1.3387.

“Typically you would think tariffs being threatened would lead to a weaker euro, but as we’ve seen last year as well, when the Liberation Day tariffs were getting put in place, the impact in FX markets actually has been more towards dollar weakness every time there is heightened policy uncertainty emanating from the US,” said Khoon Goh, head of Asia research at ANZ.

Investors had dumped the dollar in the wake of last April’s “Liberation Day” announcement when Trump unveiled sweeping tariffs on the world, triggering a crisis of confidence in US assets.

A similar trend played out on Monday, as the greenback slid 0.24% against the safe-haven Swiss franc to 0.7989, and was down 0.31% to 157.63 yen.

The dollar index was little changed at 99.17.

“While you would argue that the tariffs threaten Europe, in fact, it’s actually the dollar that is bearing the brunt of it, because I think markets are pricing in increased political risk premia on the US dollar,” said Goh.

Elsewhere, the risk-sensitive Australian dollar was down 0.12% to USD 0.6683, with its losses capped by the broad dollar weakness.

The New Zealand dollar rose 0.06% to USD 0.5755.

Cryptocurrencies, which are often used as a gauge of risk sentiment, were meanwhile sold off heavily.

Bitcoin was down nearly 3% to a one-week low of USD 92,501.38, while ether sank more than 4% to USD 3,185.98.

(Reporting by Rae Wee; Editing by Shri Navaratnam and Michael Perry)

US yields climb, poised for weekly rise as investors gauge economic strength

NEW YORK – US Treasury yields rose on Friday and were on pace for a weekly advance as investors weigh recent economic data and the path of interest rates from the Federal Reserve in the near term.

Yields have been choppy throughout the week and have remained in a tight range as markets have grappled with a revelation by Federal Reserve Chair Jerome Powell that the central bank had been threatened with a criminal indictment over a building renovation project, rising tensions in the Middle East, and US economic data on the labor market and inflation.

In addition, several Fed officials this week expressed a need for the central bank to remain cautious in cutting interest rates.

“The bond market’s still relatively unclear as to where things go next, there’s lots of uncertainty really in both directions, both towards higher and lower yields,” said Gennadiy Goldberg, head of US rates strategy at TD Securities in New York.

“The driving force is still very much what happens to the Fed and what happens to the economy going forward, and on that, there’s just an extreme lack of clarity from investors, so that’s why we’ve been stuck in that very, very tight range in rates.”

The yield on the benchmark US 10-year Treasury note rose 4.3 basis points to 4.203% and was up 3.4 basis points for the week.

The yield on the 30-year bond rose 1.8 basis points to 4.804% and has shed 1.2 basis points on the week, putting it on track for a second straight weekly decline.

Yields moved higher after President Donald Trump on Friday praised economic adviser Kevin Hassett at a White House event and said he may want to keep him in his current role, denting market expectations he would succeed Fed Chair Jerome Powell.

Fed officials expected to speak on Friday include Bank of Boston President Susan Collins, Vice Chair for Supervision Michelle Bowman and Vice Chair Philip Jefferson.

The two-year US Treasury yield, which typically moves in step with interest rate expectations for the Fed, rose 4.7 basis points to 3.611% after hitting a five-week high of 3.613% and is set for a second straight weekly gain.

Economic data on Friday showed manufacturing output rose 0.2% last month after an upwardly revised 0.3% gain in November, the Federal Reserve said, topping the estimate of economists polled by Reuters calling for a decline of 0.2%.

A separate report showed the National Association of Home Builders/Wells Fargo Housing Market index dropped 2 points to 37 in January, remaining below the 50 break-even point for 21 straight months as affordability concerns stymied potential buyers and rising costs dented construction activity.

A closely watched part of the US Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at a positive 59 basis points.

The breakeven rate on five-year US Treasury Inflation-Protected Securities (TIPS) was last at 2.396%, its highest since November 10, after closing at 2.368% on Thursday.

The 10-year TIPS breakeven rate was last at 2.317%, indicating the market sees inflation averaging about 2.3% a year for the next decade.

(Reporting by Chuck Mikolajczak in New York; Editing by Matthew Lewis)

Gold falls over 1% as profit‑taking, easing geopolitical risks weigh

Gold fell more than 1% on Friday as investors booked profits after recent record highs, while signs of easing geopolitical tensions further dampened the metal’s safe-haven appeal.

Spot gold was down 0.5% at USD 4,592.29 per ounce as of 01:39 p.m. ET (1839 GMT), after falling as low as USD 4,536.49 earlier in the session.

However, the metal is poised for its second consecutive weekly gain, of about 1.9%, after scaling a record peak of USD 4,642.72 on Wednesday.

US gold futures for February delivery settled 0.6% lower at USD 4,595.40.

“It’s a general retreat in the commodity complex after weeks of aggressive gains, with some profit-taking. The de-escalation of Middle East tensions has also removed some of the geopolitical premium in gold and other metals, especially silver,” said Marex analyst Edward Meir.

Geopolitical tensions appeared to ease as protests in Iran subsided, while US President Donald Trump took a wait-and-see approach and Russia’s President Vladimir Putin moved to mediate in Iran and de-escalate the situation.

On the trade front, the US and Taiwan struck a deal on Thursday that lowers tariffs on many of Taiwan’s semiconductor exports and channels new investments into US tech, and risks infuriating China.

Meanwhile, the Federal Reserve is expected to keep rates unchanged through the first half of the year, with a first 25-basis-point cut projected in June, as per data compiled by LSEG.

Safe-haven gold tends to do well during times of geopolitical and economic uncertainty, as well as when interest rates are low.

“I still think we have a chance of getting to USD 5,000 sometime this year, punctuated with these big corrections in the meantime,” Meir said.

Spot silver shed 2.9% to USD 89.65 per ounce, although it was headed for a weekly gain of over 12% after hitting an all-time high of USD 93.57 in the previous session.

JP Morgan said in a note on Friday that mounting risks from loosening ex‑US supply and ETF outflows to softer industrial demand and tighter Chinese trading curbs leave silver vulnerable to a sharp correction.

Spot platinum dropped 3.3% to USD 2,330.67 per ounce and headed for a weekly gain, while palladium lost 0.6% to USD 1,790.78 per ounce.

(Reporting by Anmol Choubey in Bengaluru, Editing by Louise Heavens, and Alan Barona)

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