News

Gold and silver are under pressure in the short term due to inflation fears, rising yields and higher oil prices. Gold remains within the support range of $4,400 to $4,500, but it needs to break above $5,000 to confirm the next major upward move. Silver is more volatile, and the $72 level is crucial to monitor as a starting point.

Overall, the short-term trend for both metals remains in a consolidation phase, whilst the general direction remains bullish if key support levels hold.

[Source: FX Empire]

Gold prices declined in today’s trading, as rising oil prices reignited inflation concerns. However, what is weighing most heavily on the safe-haven asset is the market’s skepticism about interest rate cuts, with rates expected to remain high for a prolonged period.

[Source: Market screener]

Gold is stronger than silver in today’s trading, as traders point to persistent inflation amid a still tense scenario between Iran and the United States. Spot gold rises by about 0.26% to $4,700 per ounce, while silver loses 0.44% and stands at $86.98.

[Source: Kitco news]