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Commodities Gold

Gold Records All-Time High as Trump’s Tariffs Rattle World Markets

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  • February 19, 2025
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Gold (XAU/USD) shot up to a new all-time high above $2,945 on Wednesday, extending its upward trend for the third straight day. The bull run was propelled by increased geopolitical tensions after US President Donald Trump re-emphasized his vow to implement 25% tariffs on auto, semiconductor, and drug imports. Naysays regarding US-Russia tensions, combined with market volatility pre-Federal Reserve’s FOMC Minutes report, contributed to the allure of gold as an insurance asset. Technicals present a possible challenge in the neighborhood of $2,951 and $2,966, though any dovish undertones the Fed may carry could further move gold towards psychological $3,000. There is still possible reversal, nonetheless, if sentiment responds to the economic data or Fed policy tilt. KEY LOOKOUTS • The threat of 25% tariffs on automobiles, semiconductors, and drugs inspires market uncertainty and pushes gold to all-time highs. • Federal Reserve January meeting minutes may guide gold’s performance, with speculators looking for clues on next interest rate actions. • Gold is resisted at $2,951 and $2,966, with potential to push further to $3,000 in case of continuous bullish momentum. • Safe-haven demand is boosted by US-Russia tensions and Trump’s hardline on Ukraine, supporting gold prices in the face of worldwide uncertainty. Gold’s record-setting sprint to a new all-time high of over $2,945 shows the market’s responsiveness to economic and geopolitical events. With Trump’s return to tit-for-tat tariffs shaking markets and uncertainty hanging over US-Russia relations, investors are hedging against volatility with gold. At the same time, the Federal Reserve’s next FOMC Minutes release provides further anticipation, as any sign of policy changes could influence market mood. Although gold’s upward trend is still intact, resistance levels around $2,951 and $2,966 may hinder further advances unless a dovish Fed or rising tensions provide further impetus for the rally. Gold rockets above $2,945 on Trump tariff plans and geopolitics. Market direction is now expected from the Fed’s FOMC Minutes. • XAU/USD rockets above $2,945, its third day of advance amidst global uncertainty. • The U.S. President reaffirms 25% tariffs on automobiles, semiconductors, and pharmaceuticals, heightening market fears. • Trump’s aggressive stance on Ukraine and US-Russia relations further contributes to investor uncertainty, supporting gold’s safe-haven status. • Minutes of the Federal Reserve’s January meeting may affect gold’s direction based on signals about interest rate policy. • Gold has strong resistance at $2,951 and $2,966 levels, with possibilities of a run to $3,000. • The 10-year benchmark yield is just shy of 4.56%, affecting the direction of gold as market players determine risk mood. • Koza Altin’s plan to make 40+ tons of gold in five years reflects the industry’s solid demand and prospects for growth. Gold’s rise to an all-time new high is a sign of increasing investor worries on geopolitical tensions and economic policies. The recent gold price boost follows U.S. President Donald Trump reaffirming his decision to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports. The decision has augmented concerns over trade disruption, and investors are resorting to the safety of gold as a safe-haven instrument. Furthermore, Trump’s tough statements on Ukraine have contributed to the uncertainty in the market, particularly after the initial negotiations between U.S. and Russian leaders failed to defuse tensions. In this context, investors and traders continue to pour into gold as a safe-haven asset against economic turmoil.  XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Beyond geopolitics, market participants are also closely watching the Federal Reserve, as its upcoming FOMC Minutes release could shape future economic policies. While several Fed officials have signaled that interest rates remain at reasonable levels, inflationary concerns persist. Gold’s ongoing strength reflects the broader uncertainty in financial markets, where investors remain cautious about global economic trends. Furthermore, gold demand continues to be strong, with Turkish miner Koza Altin detailing plans to boost production over the next few years. With fears over trade, politics, and monetary policy escalating, gold is still favored as a hedge asset for stability and long-term protection. TECHNICAL ANALYSIS Gold’s move through $2,910 has bolstered bullish sentiment, taking prices to a new all-time high above $2,945. The next important resistance points are at $2,951 and $2,966, with a likely push to the psychological $3,000 if purchasing pressure remains. But in case gold meets with rejection near these levels, a retreat to near-term support at $2,921 could happen, and further weakness might follow at $2,906. The Relative Strength Index (RSI) is indicating conditions of overbuying, implying a possible correction or consolidation in the near term. The next FOMC Minutes release may serve as a pivotal catalyst, deciding whether gold continues its upward move or experiences a short-term retracement. FORECAST Gold’s historic rally above $2,945 has fueled speculation about whether the trend will persist or experience a pullback. If geopolitical tensions rise further, especially with Trump’s belligerent approach to tariffs and Ukraine, gold may experience further upside. Safe-haven demand continues to be robust as investors hedge against economic uncertainty, and any dovish tone by the Federal Reserve in its FOMC Minutes would further push gold towards the psychological $3,000 level. Moreover, ongoing inflation worries and robust central bank purchases across the globe could continue to lend support to gold’s bullishness in the coming days. To the downside, gold is exposed to a near-term correction in case market sentiment changes. The next FOMC Minutes may provide a more sobering interest rate outlook that might dampen gold’s demand. Should the trend in rising bond yields hold, investors will rotate out of gold to move into more attractive-yielding instruments. Lastly, profit-taking at record levels may even cause gold to pull back temporarily, particularly if gold is unable to gain traction above key resistance points. A stronger dollar or positive economic indicators may also weigh on gold, causing possible retracements in the upcoming sessions.

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Commodities Gold

Gold’s Rally Gains Momentum on US-Russia Peace Negotiations and Market Sentiment

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  • February 18, 2025
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Gold maintains its rally for the second day running, reaching over $2,900 as market uncertainty and geopolitical tensions boost demand for the precious metal. The peace negotiations between US and Russian officials in Saudi Arabia have also boosted investor appetite, while Goldman Sachs raised its year-end forecast for gold to $3,100 per ounce. With inflation worries and changing Federal Reserve policy, traders are paying close attention to key resistance points, and a daily close above $2,910 could lay the groundwork for a new all-time high. But technical indicators, including an overbought RSI, point to a potential cooling-off period before additional gains.  KEY LOOKOUTS • Investors are intently following US-Russia peace negotiations in Saudi Arabia since any significant result has the potential to influence considerably the safe-haven status of gold and its price movement. • Remarks from Fed officials like Patrick Harker and Mary Daly can impact sentiment in the markets, especially about interest rate announcements and inflation projections. • A close above $2,910 on a daily basis may signal a bullish break, with bulls targeting $2,921 and the all-time high of $2,942 as important resistance levels. • Trump’s delays and exclusions in trade policy are generating economic uncertainty, reaffirming the position of gold as a value store amid world trade worries. Gold’s pace is strong with traders keeping close tabs on key geopolitical and economic events. US-Russia peace negotiations in Saudi Arabia are the primary point of interest, with any advancement having the ability to shift sentiment in markets. Comments by Federal Reserve officials on inflation and interest rates would also impact gold’s direction, particularly following Patrick Harker’s comments on leaving current rates alone. A close above $2,910 daily would affirm bull strength, with buyers targeting resistance at $2,921 and the all-time high of $2,942. At the same time, uncertainty over US tariff policies continues to fuel demand for gold as a safe-haven asset. Gold’s rally persists as geopolitical tensions and economic uncertainty fuel demand, with traders closely monitoring key resistance levels for a possible all-time high. US-Russia peace talks and Federal Reserve policies continue to be key drivers of market sentiment. • Gold extends rally to $2,910 amid geopolitical tensions, market uncertainty lifting demand for safe-haven precious metal. • Investors keep their eyes on developments in Saudi Arabia, where breakthroughs could revive gold’s appeal as a haven. • Public comments by Fed officials on interest rates and inflation may affect direction of gold, with traders keeping an eye for policy cues. • The gold forecast for the year-end has been raised to $3,100 per ounce by the investment bank, which attributes this to central bank purchases and ETF inflows. • A close above $2,910 on any given day will indicate more bullish momentum, and the major resistance levels are $2,921 and the all-time high at $2,942. • Trade policy delays and exclusions during Trump’s administration are building economic uncertainty, making gold’s appeal as a hedge stronger. • The Relative Strength Index (RSI) is signaling overbought levels, meaning traders can hold off for a dip in price before opening new positions. Gold remains in its bullish trend, breaking above $2,900 as investors clamor for the safe haven amidst geopolitical and economic tensions. US-Russia peace negotiations in Saudi Arabia continue to be a key area of interest, with any advancement having the potential to influence gold as a safe-haven asset. Moreover, Federal Reserve officials such as Patrick Harker and Mary Daly will also appear, giving future interest rate directions. Since the Fed is showing caution regarding inflation, market actors are paying particular attention to looking for signs which can guide the direction of gold. In between, Goldman Sachs has increased the year-end bullion target price to $3,100 an ounce on solid central bank buying and rising flows into bullion-backed ETFs. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Gold’s rally goes on as it crosses $2,900 on the back of geopolitical tensions and economic uncertainty. Investors are waiting with bated breath for US-Russia peace talks in Saudi Arabia, which may affect gold’s safe-haven demand. In addition, Federal Reserve officials’ future comments on inflation and interest rates might further shape market sentiment. Goldman Sachs’ updated year-end forecast of $3,100 an ounce emphasizes strong central bank demand and ETF inflows underpinning the metal’s bullishness. TECHNICAL ANALYSIS The technical position of gold continues to be bullish, with the price recovering main resistance at $2,910 and positioning the market for increased gains. Closing above this price on the daily chart would support the bullish move, with players targeting the subsequent resistance at $2,921 and the historic high of $2,942. The Relative Strength Index (RSI) is, however, showing signs of overbuying, warning that the market action could get overheated. This implies the possibility of a pullback or consolidation before another breakout. Target levels to monitor are $2,893, which has already held through the Asian session, and $2,881 as the next key downside target. A break below these would initiate a short-term correction, but overall momentum is strong for further upside. FORECAST Gold’s upward momentum persists as it remains above key resistance at $2,910, indicating further potential gains. Should prices close above this mark, the next resistance target would be $2,921, with $2,942 being the all-time high. Breaking above $2,942 would take gold towards Goldman Sachs’ updated year-end target of $3,100 per ounce on the back of robust central bank demand and safe-haven appetite. Moreover, persistent geopolitical tensions, such as the US-Russia peace talks and worldwide trade uncertainties, would lead investors to gold, further supporting its bullish trend. Gold has a potential downside risk even after the strong rally because overbought technical readings are present. The Relative Strength Index (RSI) indicates that the price is reaching dangerous levels of overheating, which may correct or consolidate before another increase. Immediate support is at $2,893, with $2,881 providing further support as buffers against a further drop. If selling pressure continues to build, then gold may fall towards $2,860 or even lower if Federal Reserve officials indicate a less

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Commodities Gold

Gold Prices Rise Despite Market Uncertainty: Investors Look to Fed Rate Reductions and Central Bank Buying

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  • February 15, 2025
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Gold prices are poised to post a weekly gain of more than 0.80%, following a Friday dip, as investors absorb soft US Retail Sales data and declining Treasury yields. The US Dollar declined, boosting bullion’s appeal, while markets factored in more than a single Federal Reserve rate reduction, further bolstering gold’s longer-term prospects. Central bank buying continues to be robust, with more than 1,000 tons purchased for the third year in a row, supporting gold’s bullishness. Technically, XAU/USD is still in an uptrend, with support at $2,850 and resistance around its all-time high of $2,942. Traders continue to watch FOMC minutes and upcoming economic releases for additional price guidance. KEY LOOKOUTS • Multiple Fed rate cuts are being priced in by investors, enhancing gold’s attractiveness as the lowering of interest rates lessens the opportunity cost of holding bullion. • A weakening US Dollar, caused by disappointing retail sales, is making gold look more attractive as a safe-haven asset with economic uncertainty. • Central banks worldwide continue heavy gold purchases at more than 1,000 tons for the third year running, strengthening long-term bullish trend. • Gold has crucial resistance at $2,942, with the potential breakout point at $3,000, and support at $2,850 and $2,790 in the event of pullbacks. Gold continues to be poised for significant gains as several factors underpin its bullish trend. Disappointingly low US Retail Sales have stoked a dip in the US Dollar, bolstering gold’s safe-haven status. Investors are increasingly pricing in Federal Reserve rate cuts, lowering Treasury yields and making non-yielding assets such as gold more appealing. Moreover, central bank buying is still going through the roof, with more than 1,000 tons of gold purchased for the third year in a row, bolstering demand. Technically, although gold encounters resistance at its all-time high of $2,942, a breakout has the potential to drive prices to the $3,000 level, while support levels are critical at $2,850 and $2,790. Gold will close the week with strong gains in spite of Friday’s decline, propelled by softer US Retail Sales, weakening US Dollar, and rising Fed rate cut probabilities. Central bank buying keeps surging, supporting long-term fundamentals. Strong resistance at $2,942, with a possible breakout to $3,000. • Gold will close the week 0.80% higher in spite of a Friday pullback, demonstrating exceptional bullish sentiment. • Weaker-than-projected US Retail Sales caused a weakening US Dollar, improving gold’s safe-haven demand. • Investors expect several Federal Reserve rate cuts, lowering Treasury yields and making gold even more appealing. • Global central banks bought more than 1,000 tons of gold for the third year in a row, consolidating long-term bullish pressure. • The Greenback reached yearly lows, supporting higher gold prices further. • Major resistance is at $2,942, with the possibility of moving towards $3,000 if the buyers are able to maintain momentum. • Gold’s nearest support is at $2,850, then key levels at $2,790 and $2,730 in the event of a retracement. Gold is set to end the week with robust gains of 0.80%, despite Friday’s pullback, as investors respond to softer US Retail Sales and declining Treasury yields. The US Dollar has depreciated strongly, touching all-time lows on a yearly basis, and has further improved gold’s position as a safe haven. Second, investors now have priced in several Federal Reserve rate cuts, resulting in bond yields falling and making non-yielding assets such as gold attractive. Central bank demand also continues to be a primary driving force, as more than 1,000 tons of gold bought for the third year running continues its long-term bullish impetus. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Gold is to close out the week on firm gains of 0.80%, even after Friday’s pullback, as softer US Retail Sales and a falling US Dollar enhance its safe-haven status. Investors are now factoring in several Federal Reserve rate cuts, causing Treasury yields to decline and further bolstering the long-term picture for gold. Central banks continued their aggressive gold buying, fueling the optimism. On the technical side, gold is supported at $2,942 with a possible breakout to $3,000, while critical supports are $2,850 and $2,790. Market players now wait for the FOMC minutes to see what else they might indicate regarding monetary policy direction. TECHNICAL ANALYSIS The technical outlook for gold is still bullish, even as the metal pulls back recently, trading currently close to $2,883 following a two-day low of $2,878. The uptrend continues intact provided buyers protect crucial support points starting at $2,850, then $2,790 and $2,730. The Relative Strength Index (RSI) has moved out of overbought levels, indicating a possible consolidation before the next move higher. If gold is able to break above the $2,900 level, the next important resistance is at the all-time high of $2,942, with an extension possible towards the psychological $3,000 level. Traders will watch price action and future economic releases closely for additional confirmation of trend direction. FORECAST Gold prices’ bullish run is still on as a number of underlying and technical drivers remain in favor of higher prices. If the purchasing interest can propel gold above the $2,900 mark, the next threshold to watch is the all-time high price of $2,942. A move above this may cause additional gains towards the psychological level of $3,000. With investors already factoring in several Federal Reserve rate reductions and central banks still making robust gold purchases, the longer-term picture is still positive. Moreover, persistent US Dollar weakness and lower Treasury yields add to the support, and gold is a good hedge against inflation and economic uncertainty. While the overall trend is positive, gold is subject to potential downside risks from profit-taking and important support levels being tested. If the metal dips below $2,850, more declines would send it to the October 31 cycle high support at $2,790, and then to the next important level at $2,730. The Relative Strength Index (RSI) has moved out of overbought levels, which means there could be a short-term correction. If US economic indicators surprise on the upside

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Commodities Gold

Gold prices surged past $2,900: Trump’s tariffs and global uncertainty fuel safe-haven demand

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  • February 11, 2025
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Gold price (XAU/USD) continues its bullish momentum, breaching the $2,900 mark to hit a fresh all-time high amidst growing safe-haven demand. The surge is driven by US President Donald Trump’s new tariffs on commodities, escalating global trade war concerns, and geopolitical tensions, particularly in the Middle East. Other positives include the prospect of increasing inflation with the pro-protectionist policies of President Trump, thus making gold more attractive as an economic uncertainty hedge. A weak US Dollar bounce and an overbought market have resulted in some intraday profit-taking before Fed Chair Jerome Powell’s congressional testimony. Even though the precious metal experienced some minor pullbacks, the bigger picture is bullish, and strong support is at key technical levels above $2,800, which supports additional upside. KEY LOOKOUTS • Global uncertainty rises with threats of US retaliation and reciprocal tariffs on commodities • Increasing skirmishes, in the Middle East for one, only heighten fears in markets that drive even greater demand for gold as an inflation hedge against volatility • Fed rate policy and future course under inflation concern and a surprising strong labor market. • Despite minor pullbacks, gold’s strong support above $2,800 and bullish trends suggest further upside potential in the coming sessions. Gold’s bullish momentum remains intact as it continues to trade above the $2,900 mark, driven by escalating trade war fears following Trump’s new tariffs and ongoing geopolitical tensions. Investors are turning to the safe-haven metal amid uncertainties surrounding global economic policies and Middle East conflicts. A stronger US Dollar and profit-taking have caused slight pullbacks, but gold’s strong technical support near $2,800 suggests limited downside risks. The market now awaits Fed Chair Jerome Powell’s testimony, which could provide further clarity on the Federal Reserve’s rate stance and influence gold’s next move. Gold price continues to hold strong above $2,900 on the back of Trump’s tariffs and geopolitical tensions, which increase safe-haven demand. Even minor pullbacks are capped by strong support near $2,800. Fed Chair Powell’s testimony may shape gold’s next move. • Gold price surges to a record high as safe-haven demand increases. • New US tariffs on commodities raise the specter of a global trade war, making gold more attractive. • Uncertainties, especially in the Middle East, push investors towards gold as a hedge. • Expectations of inflation because of Trump’s protectionist stance might influence the rate decisions of the Federal Reserve. • A modest recovery in the USD results in some profit-taking in the prices of gold. • Gold is well-supported above $2,800 and is limited in downside risks despite minor corrections. • Investors await Fed Chair Jerome Powell’s comments, which may affect the future course of gold. Gold’s price keeps on its bullish trend, going past the $2,900 mark and reaching a new all-time high as investors seek safety amid rising economic and geopolitical uncertainties. US President Donald Trump’s newly imposed tariffs on commodities, along with his plans for reciprocal duties on other countries, have fueled fears of a global trade war, significantly boosting demand for gold. Furthermore, increased political tensions, especially in the Middle East, have also contributed to gold’s safe-haven status. However, some intraday profit-taking occurred due to a minor US Dollar recovery. Yet, the bullish sentiment remains firm, with technical support levels around $2,800 capping the downside. XAU/USD Daily Chart TradingView Prepared by ELLYANA Looking ahead, market participants are watching the Federal Reserve’s policy stance very closely as Trump’s protectionist policies are likely to drive inflation higher, and this might have an impact on the Fed’s interest rate decisions. A hawkish stance from the central bank would strengthen the US Dollar and cap gold’s gains, while a dovish approach would further support the yellow metal’s rally. Investors are also waiting for Fed Chair Jerome Powell’s congressional testimony, which may give a clue about the Fed’s view on inflation and interest rates. While short-term fluctuations are possible, the broader technical setup suggests that gold is still on an uptrend, and strong demand is likely to keep prices elevated in the near term. TECHNICAL ANALYSIS Gold is still in a strong uptrend, comfortably above the $2,900 level, and with key support around the $2,800 level. Any pullback towards $2,886-$2,882 should attract fresh buying interest, which will reinforce the bullish outlook. A decisive break below this zone may push prices towards the $2,855-$2,852 region, but downside risks are limited because of strong demand. On the flip side, yesterday’s resistance came in near $2,943-$2,950; a next leg higher probably targets the $3,000 mark, but it is reflected in the daily chart – the overbought Relative Strength Index (RSI). The next leg higher might mean some consolidation or short-term correction. Traders will look forward to Fed Chair Jerome Powell’s testimony and the US Dollar’s movement for further directional cues. FORECAST The medium-term bullishness in gold will likely continue for the near term, with price action testing new higher resistance levels. If this buying pressure remains strong, then the next target to the upside would be in the $2,943-$2,950 area, with the psychological $3,000 barrier being a major obstacle before breaking above to start a new rally and take the long-term uptrend much further. Geopolitical tensions, inflation fears, and safe-haven demand will continue to fuel gold prices. The positive view on the yellow metal will continue. But, the price may see some pullbacks because of profit-taking and the US Dollar’s strengthening. If the price falls below $2,900, the initial support is seen around $2,886-$2,882, and the downside risks will extend toward the $2,855-$2,852 zone. Another more aggressive push in correction would push prices closer to the $2,834 level, but that level is expected to attract buyers, thus limiting further declines. Market sentiment will be highly driven by the monetary stance of the Federal Reserve and Jerome Powell’s testimony as any hints of a prolonged rise in higher interest rates would force short-term downward pressure on gold.

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Commodities Gold

Gold Prices Soar to New All-Time Highs as Trade War Jitters, Inflation Loom

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  • February 10, 2025
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Prices of gold (XAU/USD) have maintained their bull run and even reached new all-time highs near the $2,896-$2,897 level as haven demand increases amidst heightened trade war jitters and inflationary pressure. US President Donald Trump declared new 25% tariffs on steel and aluminum imports, in addition to threatened retaliatory measures, which raised uncertainty and have prompted investors to rush to the safe haven. Meanwhile, upbeat US jobs data and persistent inflation worries are expected to keep the Federal Reserve cautious about rate cuts, providing further support to gold prices. Despite modest US Dollar strength and overbought technical conditions, the fundamental backdrop suggests the path of least resistance remains to the upside. Traders now await Fed Chair Jerome Powell’s testimony and key inflation data for further direction. KEY LOOKOUTS • Trump’s new tariffs on steel and aluminum escalate US-China tensions, driving investors toward safe-haven assets like gold amid economic uncertainty. • Rising inflation fears, fueled by protectionist policies, strengthen gold’s appeal as a hedge against price increases despite the Federal Reserve’s cautious stance. • The Fed’s decision on interest rates remains key, as resilient labor market data and inflation trends could impact gold’s bullish momentum. • Gold faces resistance near $2,900, while overbought RSI signals possible consolidation; key support levels to watch are $2,855 and $2,834. Gold prices continue to rally amid escalating trade war fears and inflation concerns, driven by US President Donald Trump’s announcement of new tariffs on steel and aluminum imports. Investors seek refuge in the safe-haven metal as economic uncertainty looms, while inflationary pressures further boost gold’s appeal. Despite the Federal Reserve’s cautious stance, resilient US labor market data and persistent inflation could limit room for further rate cuts, supporting gold’s bullish outlook. However, technical indicators signal overbought conditions, suggesting potential consolidation near the $2,900 resistance level, with key support at $2,855 and $2,834 to watch for potential pullbacks. Gold prices surge to record highs amid escalating trade war fears and inflation concerns, with investors seeking safe-haven assets. While the Federal Reserve’s cautious stance supports gold, overbought technical conditions hint at possible consolidation near the $2,900 resistance level. • XAU/USD reaches a fresh all-time high around the $2,896-$2,897 region amid strong safe-haven demand. • Trump’s new 25% tariffs on steel and aluminum imports escalate US-China tensions, boosting gold’s appeal. • Protectionist policies may reactivate inflation, reinforcing the reasons to hold gold as a hedge against rising prices. • Strong labor market and inflationary worries might prevent the Fed from reducing interest rates, further supporting gold’s bullish outlook. • A slight USD advance might cap the rally in gold, but the fundamental setup is supportive. • Gold is resisted around the $2,900 area, with overbought RSI conditions pointing to consolidation. • Immediate support lies at $2,855 and $2,834, with a further decline targeting the $2,815-$2,800 range. Gold prices continue their upward trajectory, reaching a fresh all-time high around the $2,896-$2,897 region as investors seek refuge in the safe-haven asset amid rising economic uncertainty. US President Donald Trump’s announcement of new 25% tariffs on steel and aluminum imports has intensified fears of a trade war, prompting increased demand for gold. Additionally, concerns over inflationary pressures due to protectionist policies have further strengthened gold’s status as a hedge against rising prices. Meanwhile, the US labor market remains resilient, with a lower-than-expected unemployment rate, which could limit the Federal Reserve’s ability to ease monetary policy. Despite modest US Dollar strength, gold maintains its bullish momentum, signaling strong investor confidence in the metal. XAU/USD Daily Price Chart TradingView Prepared by ELLYANA Gold’s technical outlook remains bullish, but overbought conditions on the daily Relative Strength Index (RSI) suggest a potential short-term consolidation or pullback. The key resistance level stands at $2,900, and a sustained break above this could push prices toward $2,920-$2,930. On the downside, initial support lies at $2,855-$2,854, with stronger buying interest expected around $2,834. If bearish pressure intensifies, the next critical support zone is near $2,815-$2,800. Moving averages indicate continued strength, reinforcing the long-term uptrend, while traders closely watch upcoming economic data and Federal Reserve signals for further price direction. TECHNICAL ANALYSIS Gold (XAU/USD) remains in a strong uptrend, but overbought conditions on the daily Relative Strength Index (RSI) indicate the possibility of short-term consolidation or a minor pullback before further gains. The immediate resistance lies at the psychological $2,900 level, and a sustained breakout above this could push prices toward the $2,920-$2,930 range. On the downside, initial support is seen at $2,855-$2,854, with further key levels at $2,834 and $2,815. If gold breaks below these levels, a deeper retracement toward the $2,800 mark could follow. Moving averages continue to move up, specifically 50-day and 200-day EMAs. Traders would watch the short-term momentum indicators and price action for a breakout confirmation in either direction, given that short-term direction could shift based on upcoming US inflation numbers and signals coming from the Fed. FORECAST The current trend in the gold prices continues to remain uptrended; safe haven, as well as inflation, would continue to sustain the uptrend. The bullish momentum suggests that gold could break above the psychological $2,900 mark, with the next potential target around $2,920-$2,930. If trade tensions between the US and China escalate further or inflation fears intensify, gold may see additional upside, attracting more investors seeking a hedge against economic instability. The Federal Reserve’s stance on interest rates will also play a crucial role in sustaining the bullish momentum. Should the Fed signal a more dovish approach due to persistent economic risks, gold could gain further, testing new record highs in the coming weeks. Despite gold’s strong rally, short-term pullbacks remain a possibility due to overbought technical conditions. The Relative Strength Index (RSI) indicates that gold is approaching an overextended zone, suggesting the potential for a temporary correction. If profit-taking sets in, initial support is expected near the $2,855-$2,854 region, followed by stronger support at $2,834. A deeper retracement could bring the price down to $2,815 or even the $2,800 psychological level, where fresh buying interest

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Commodities Silver

Silver Price Forecast: XAG/USD Targets Fresh Highs Amid Strong Bullish Momentum

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  • February 10, 2025
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Silver (XAG/USD) continues its bullish momentum, trading near $32.00 per troy ounce, supported by strong technical indicators. The metal remains above the nine-day and 14-day EMAs, reinforcing its short-term uptrend. With the RSI above 50 and the price advancing within an ascending channel, silver could retest its three-month high of $32.65, with a potential breakout targeting the psychological level of $33.00. Key support levels are found at $31.71, $31.44, and $31.10, with a break below these potentially shifting the trend bearish toward December’s low of $28.74. KEY LOOKOUTS • Silver faces a key resistance level at its three-month high of $32.65; a breakout could drive prices toward the psychological barrier of $33.00. • The nine-day EMA at $31.71 acts as immediate support; a breach below this level could weaken bullish momentum and trigger further declines. • The 14-day RSI remains above 50, signaling continued bullish strength; sustained momentum could reinforce the uptrend and push silver toward new highs. • The price of silver trades in an ascending channel and thus is considered very bullish. To continue with further gains, the price has to hold above the lower boundary of $31.10. Silver (XAG/USD) continues with the bullish sentiment. It has traded within the ascending channel and above the crucial support levels. At present, the price has been facing crucial resistance at $32.65, and the break above that can take the price towards the psychological level of $33.00. The nine-day EMA at $31.71 serves as immediate support, while the 14-day EMA at $31.44 and the channel’s lower boundary at $31.10 provide additional safety nets for bulls. With the RSI above 50, market sentiment remains positive, reinforcing the likelihood of further gains unless silver breaks below critical support zones, which could shift momentum bearish toward $28.74. Silver (XAG/USD) continues its bullish trend, facing key resistance at $32.65, with a breakout potentially driving prices toward $33.00. Strong support at $31.71 and the RSI above 50 reinforce the uptrend, while a break below $31.10 could weaken momentum. • Silver faces a crucial resistance at its three-month high; a breakout could push prices toward the psychological level of $33.00. • The nine-day EMA acts as strong support; a break below this could weaken the bullish momentum. • Silver trades within an ascending channel, indicating a strong uptrend unless the lower boundary at $31.10 is breached. • The 14-day RSI remains above 50, signaling continued bullish strength and supporting further upside potential. • Silver remains above the nine-day and 14-day EMAs, reinforcing a strong bullish outlook. • A break below key support levels ($31.71, $31.44, and $31.10) could expose silver to further downside, potentially testing $28.74. • If silver breaks above $32.65, it could aim for the next key psychological resistance at $33.00, further strengthening the bullish outlook. Silver (XAG/USD) continues to trade within a strong bullish trend, hovering near $32.00 while finding support at key moving averages. The metal stays above the nine-day EMA at $31.71 and the 14-day EMA at $31.44, so short-term momentum is strong. With the RSI above 50, silver is still on a positive track, and a breakout above the critical resistance level of $32.65 may take prices up to the psychological barrier of $33.00. The ascending channel formation continues to support the ongoing uptrend, keeping buyers in control as long as the lower boundary at $31.10 holds. XAG/USD Daily Price Chart TradingView Prepared by ELLYANA But if silver cannot hold the bullish momentum, a breakdown below $31.71 may push the price further down and open it to deeper retracements. A break of the 14-day EMA at $31.44 and the lower boundary of the ascending channel at $31.10 may change the market sentiment and push the price down to December’s low of $28.74. Traders should closely watch resistance at $32.65 and key support levels to gauge the next directional move in silver prices. TECHNICAL ANALYSIS Silver (XAG/USD) exhibits strong bullish momentum on the daily chart, trading within an ascending channel while holding above key moving averages. The nine-day EMA at $31.71 and the 14-day EMA at $31.44 act as crucial support levels, sustaining the uptrend. The Relative Strength Index (RSI) remains above 50, indicating sustained bullishness and leaving room for a further move upwards. The initial resistance level to watch is the three-month high at $32.65. A break above this level might send prices upwards to $33.00. A break below $31.10, which is the lower boundary of the ascending channel, might weaken momentum and leave silver vulnerable to a drop to the level of $28.74. FORECAST Silver (XAG/USD) continues to show strong bullish momentum, with technical indicators supporting further gains. The price remains above key moving averages, with the nine-day EMA at $31.71 and the 14-day EMA at $31.44 acting as strong support levels. If silver sustains its current uptrend, it could retest its three-month high of $32.65, a critical resistance level. A breakout above this could push the price toward the psychological mark of $33.00, further strengthening bullish sentiment. The RSI staying above 50 and the price moving within an ascending channel indicate that buyers remain in control, increasing the likelihood of continued upward movement. Despite the bullish outlook, silver faces potential downside risks if key support levels fail to hold. A break below the nine-day EMA at $31.71 could indicate weakening momentum, with the next critical support at the 14-day EMA of $31.44. If the price falls below the ascending channel’s lower boundary at $31.10, bearish pressure could accelerate, exposing silver to further losses. In a worst-case scenario, a sharp decline could push XAG/USD toward its five-month low of $28.74, recorded in December. Traders should closely monitor support levels and key technical indicators to assess potential trend reversals.

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Commodities Gold

Gold Faces Pressure as Risk Appetite Grows; CPI Data in Focus for Market Direction

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  • January 15, 2025
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Gold prices are currently under pressure as a “risk-on” market sentiment reduces demand for safe-haven assets like gold. Expectations for a slower pace of Federal Reserve rate cuts have driven flows away from the precious metal, while softer-than-expected US Producer Price Index (PPI) data adds further uncertainty. Traders are on the sidelines ahead of the US Consumer Price Index report, which could dramatically alter the market’s perception of Fed policy going forward. A better-than-expected CPI might put a damper on gold’s rally, while weaker-than-expected data might add more fuel to the fire in terms of gold prices. From a technical perspective, gold is still in a consolidation pattern, with major resistance levels at $2,675 and $2,700, and significant support at $2,640 and $2,615. The near-term direction of gold may be dictated by the outcome of the CPI report. KEY LOOKOUTS • The CPI report will drive Fed rate cut expectations and the direction of gold. • A breakout above $2,675 may lead to further upside toward $2,726. • Support zones at $2,640 and $2,615 may prevent a deeper downside. • A risk-on sentiment may cap demand for gold and limit upside momentum. Gold prices closely correlate with market events that will be taking place soon, the US CPI report being one of the most crucial factors in expectations of future Fed rate cuts. If the data for the CPI comes in better than expected, it may affect the bullish sentiment in gold; on the contrary, weaker data may support additional price gains. Key technical levels are also focused on, and resistance is near $2,675 and $2,700, while support lies around $2,640 and $2,615. Moreover, the general market’s risk appetite will play a role in the next direction, as the risk-on environment might suppress demand for gold and cap its rally. The factors above need to be closely monitored by traders in the near future. The next US CPI report will be decisive for the outlook of gold’s price, where resistance will be found at $2,675 and support at $2,640. Market sentiment and expectations for Fed rate cuts will also guide gold’s direction. KEY POINTS Gold has been under pressure due to changing market sentiment from risk-off to risk-on. As a result, the safe haven demand of the yellow metal is being dampened. Market participants are waiting for the US Consumer Price Index (CPI) that could have a big impact on the expectations for further Federal Reserve rate cuts. If CPI is stronger than expected, this may make the Fed sound a bit hawkish, which will send gold down. If it is weaker than expected, this will be helpful for gold in its bullishness. Technically, gold faces strong resistance around $2,675 and $2,700. If the price breaks through these barriers, it is most likely to target the December high of $2,726. On the flip side, significant support zones are present around $2,640 and $2,615. In case gold comes under downward pressure, these levels may serve as a floor. Deeper technical factors aside, more significant factors are at play here as well. Market expectations have been adjusted to only one Fed rate cut in 2025, which in turn is limiting the appeal of gold as an alternative asset. A prevailing risk-on sentiment where investors are preferring riskier assets could limit gold’s upside. Geopolitical risks and economic uncertainties may however provide some support for gold as a safe-haven investment. The Relative Strength Index (RSI) is still above the midline, hence remaining in a bullish consolidation phase. Furthermore, gold continues being a “buy-the-dips” trade. TECHNICAL ANALYSIS Gold is consolidating in a bullish phase after the breakout from the symmetrical triangle pattern, and the RSI of 14 days continues to print above the midline around 56. The market exhibits the sentiment of “buy the dips.” It still has key resistance at $2,675 and $2,700. Any sustained break above these could signal further upside toward the December 12 high of $2,726. On the negative side, strong support is found at $2,640, a critical zone marked by multiple moving averages and the triangle convergence. A drop below this level could lead to further declines, with $2,615 acting as the next key support area. The technical indicators suggest that gold could continue to consolidate or push higher, depending on how these key levels hold. XAUUSD Daily Price CHART Sources: TradingView, Prepared by ELLYANA FORECAST Short-term gold price forecasts are highly dependent on key technical levels and some upcoming economic data, most importantly the US CPI report. If gold can break and hold above the $2,675-$2,700 resistance zone, we may expect further upside momentum towards the December high of $2,726. A sustained break above $2,700 could open the door for a bullish run and potentially target higher levels. However, if gold breaks down, not above the resistance barrier, but is subjected to selling pressures, it will be tested to the strong support zones around $2,640 and $2,615. Below that, at $2,640, a deeper correction seems highly likely, with $2,615 being the next serious level of support. Overall market sentiment, from the risk-on mood to the Federal Reserve’s stance, will also play a large role in setting the direction for gold. If inflation data is weaker than expected, this could help push gold higher. Stronger data might send it lower.

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