🥇Gold and 🥈silver bounced on Friday, recovering from their midweek lows as the dollar softened, yields pulled back from their highs, and buyers stepped in.
Gold closed near $4,194 (+1.5%); silver finished at $60.70 (+2.77%). Weak Michigan sentiment (46.3) added to the growth-slowdown case, but inflation expectations remain sticky at 4.7% / 3.5%. With the 10-year yield around 5.24%, DXY near 102.10, and markets pricing an 84% chance of a December hike, real-rate risk hasn’t gone away. Oil also remains elevated amid Hormuz shipping concerns, even as immediate strike fears eased.
Next up: CPI on Wednesday, PPI on Thursday.
Levels to watch :
🥇Gold: Resistance $4,225.81–$4,233.10, then $4,272. Support $4,183.83, then $4,141.86.
🥈Silver: Resistance $61.72–$63.06. Support $60.62, then $59.96.
For now, I’d treat the move as a recovery, not a breakout. Gold holding above $4,184 keeps the bounce intact; a clear move through $4,226 could open the way to $4,272. Lose $4,184 and $4,142 comes back into view.
Cash is a position into CPI week. NFA.
TRADE $XAU - $XAG HERE👇
Gold closed near $4,194 (+1.5%); silver finished at $60.70 (+2.77%). Weak Michigan sentiment (46.3) added to the growth-slowdown case, but inflation expectations remain sticky at 4.7% / 3.5%. With the 10-year yield around 5.24%, DXY near 102.10, and markets pricing an 84% chance of a December hike, real-rate risk hasn’t gone away. Oil also remains elevated amid Hormuz shipping concerns, even as immediate strike fears eased.
Next up: CPI on Wednesday, PPI on Thursday.
Levels to watch :
🥇Gold: Resistance $4,225.81–$4,233.10, then $4,272. Support $4,183.83, then $4,141.86.
🥈Silver: Resistance $61.72–$63.06. Support $60.62, then $59.96.
For now, I’d treat the move as a recovery, not a breakout. Gold holding above $4,184 keeps the bounce intact; a clear move through $4,226 could open the way to $4,272. Lose $4,184 and $4,142 comes back into view.
Cash is a position into CPI week. NFA.
TRADE $XAU - $XAG HERE👇