Gold (XAU/USD) prices pared some of their intraday losses, although they remained pressured below the $3,400 level and above the two-week high reached last Friday. Amid optimistic market sentiment, the moderate strengthening of the US dollar (USD) prompted profit-taking around the commodity after its recent gains over the past week or so. However, a combination of factors helped limit the decline in the precious metal. Source: Newsmaker.id
Silver prices fell to around $38.99 per ounce as the market grew more optimistic about a trade deal between the US, EU, and Japan. Demand for safe-haven assets weakened, despite lingering uncertainty regarding US tariffs on South Korea, India, and the outcome of next week's Fed meeting. Technically, silver is holding below the $40.00 resistance and is now testing the $38.60 support. A breakout would potentially lead to a drop to $38.00. However, if it holds above $39.00, there is a chance of a rebound if dovish sentiment from the Fed emerges. Source: Newsmaker.id
Gold prices strengthened slightly in early Asian trading on Thursday (July 24th), driven by the possibility of position adjustments after a three-day rally in gold futures ended overnight. The research team from Sucden Financial noted that although speculative interest in gold is starting to increase, the levels are still not extreme. Meanwhile, retail demand is starting to show signs of slowing. Analysts predict that gold prices will likely move in a consolidation phase in the near term, awaiting clarity on the direction of interest rate policy from the US Central Bank (The Fed). Without a...
Silver prices (XAG/USD) weakened slightly after reaching $39.39, their highest level since September 2011, and are currently trading around $39.20 per troy ounce during the Asian session on Wednesday (July 23). Silver prices were pressured by weakening demand for safe-haven assets, driven by the wave of trade deals.As of the release of this news, the price of silver was at $39,397. Source: Newsmaker.id
Gold prices weakened on Wednesday (July 23) due to improved risk appetite after US President Donald Trump announced a trade deal with Japan ahead of the upcoming tariff deadline. However, a weaker dollar and lower Treasury yields limited losses for US dollar-priced bullion.As of this writing, gold prices were at $3,421. Source: Newsmaker.id
Silver is currently at $39,290, supported by a weakening US dollar and global trade concerns, which are driving interest in safe-haven assets. Expectations of a Fed rate cut and industrial demand are also supporting prices. Technically, silver remains in an uptrend. Strong support is at $39.00, while the nearest resistance is at $39.50. A breakout of this resistance opens the potential for a rally to $40.00. The RSI is approaching overbought territory, signaling a possible short-term consolidation.Source: Newsmaker.id