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 empower investors with the insights needed to navigate these markets effectively.
Gold prices are consolidating their three-day bullish momentum early Thursday, having reached a three-month high of $2,764 on Wednesday. As gold buyers take a moment to pause, focus shifts to U.S. economic indicators, with weekly Jobless Claims data on the horizon. U.S. President Donald Trump’s proposed tariffs are a significant factor driving interest in this safe-haven asset. However, most of these tariffs were already factored into the market, while traders may find optimism in Trump’s announcement regarding investments in artificial intelligence (AI) infrastructure.
The daily chart indicates that gold prices are on track to test the record high of $2,790. Earlier this month, gold charted a breakout from a symmetrical triangle pattern and remains comfortably above all major daily moving averages, reinforcing the bullish outlook. The 14-day Relative Strength Index (RSI) continues to rise above the midline, keeping buyers optimistic. Currently, the Stochastic Oscillator is at 92, and the RSI stands at 66.