Today’s analysis offers a comprehensive overview of the gold and silver markets, highlighting the fundamental and technical factors influencing current trends. Our report is designed to equip investors with the insights necessary to navigate these markets effectively.
Gold prices are trading cautiously above $2,900 as investors reduce their positions ahead of the FOMC minutes release. Concerns surrounding Trump’s tariff plans and trade war fears continue to bolster demand for the commodity. Expectations of a Fed rate cut are weighing on the USD, providing additional support for gold. The renewed tariff threats from President Trump, along with stalled US-Russia peace talks, reinforce gold’s status as a traditional safe haven. Trump recently announced that sectoral tariffs on pharmaceuticals and semiconductor chips could rise to “25% or higher,” with potential increases over the coming year.
The daily chart indicates that gold is hovering near its record high of $2,943, with the 14-day Relative Strength Index (RSI) entering overbought territory. In this bullish technical setup, gold buyers are aiming for a new high, with the next significant resistance at the $2,950 level. On the downside, a pullback could lead to a test of the $2,900 mark, and a drop below this level would put the February 14 low of $2,877 at risk.
A decisive break of that level could trigger further declines toward the psychological barrier of $2,850. The Stochastic Oscillator is at 90, while the RSI stands at 70.
Silver is making gains as traders respond to the robust performance of the gold markets. The RSI is in moderate territory, indicating there’s potential for further momentum in the near term. If silver rises above the $33.00 level, it could advance toward the next resistance zone between $34.60 and $34.85. Currently, the short-term Stochastic Oscillator is at 76, and the Relative Strength Index (RSI) stands at 64.
In the dynamic and ever-changing landscape of bullion markets, it is essential to stay informed through both technical and fundamental analysis to make sound investment decisions. Our report aims to provide a balanced perspective to help investors navigate the complexities of gold and silver trading effectively.