Silver prices are rising again, as the US dollar rally begins to lose steam amid calmer risk sentiment.At the time of this analysis, silver prices were at $41,858 Source: Newsmaker.id
Gold corrected after hitting a record $3,707/oz: The Fed's 25 bps cut is already priced in, Powell's tone is cautious, the USD strengthens, the bullish impulse subsides, and profit-taking takes hold. Key levels: resistance $3,680–$3,700 (ATH $3,707), support $3,650/$3,640, then $3,610–$3,600. With expectations of further cuts already partially priced in, the bullish impulse has temporarily subsided. The gold price at the time of writing was $3,639/oz. DISCLAIMERNote: This article is for analytical purposes only and is not a definitive reference. Consider fundamental and technical...
Gold is currently correcting after initially surging following the Fed's 25 bps interest rate cut. Jerome Powell's "meeting-by-meeting" and less dovish statements have raised market doubts about the pace of future rate cuts, thus easing interest in gold. Furthermore, the US dollar strengthened following Powell's comments. A stronger dollar typically puts downward pressure on gold prices because it makes them more expensive for buyers outside the US. As a result, gold is now about $60 below its record high. The price of gold at the time of writing is $3,653/Toz. DISCLAIMER Note: This...