News

Gold and silver are trading in a consolidation phase around key technical levels, while a strong US dollar and elevated Treasury yields continue to weigh on the sector.
For gold, a break above $4,670 could open the way toward $4,800, while a drop below $4,400 would increase the risk of a correction down to $4,200–$4,000.
Silver also remains within a wide range: $72 is the main support level, while $89 is the key threshold to confirm further upside.
Price movements will be driven mainly by the US dollar, Fed policy decisions, and inflationary pressures linked to oil.

[Source: FXEmpire]

Gold remains above $4,500 an ounce following the recent rise. Negotiations between the United States and Iran are fuelling optimism in the markets.
The fall in oil prices is helping to ease inflationary pressures. Consequently, expectations of monetary tightening in the short term are waning. However, the Federal Reserve is maintaining a cautious approach. Investors remain divided over possible interest rate moves by the end of the year.

[Source: Trading Economics]

Gold prices showed little movement in the early hours of Asian trading, with markets on alert over the inflationary impact of the war with Iran. Spot gold rose by 0.1%, but remained close to its lowest levels since early April.

Weighing on the price of gold are growing concerns about inflation and high interest rates, which are keeping central banks on a tight monetary policy stance and reducing gold’s appeal.

Signs of progress in the peace talks have had little impact, whilst rising bond yields and a stronger dollar continue to put pressure on share prices.

[Source: based on data from Investing.com]