Spot metals under pressure into CPI
Gold and silver edged lower in late U.S. trading Tuesday as traders trimmed risk ahead of CPI. Gold was around $4,159 (-0.3%), while silver fell to $59.03 (-1.9%).
Firm short-term yields, with the 2-year above 4.81%, and markets pricing roughly an 88% chance of a December Fed hike kept pressure on metals despite a softer dollar. Hormuz and U.S.–Iran tensions are adding uncertainty to oil, but haven’t created a clear inflation signal. Silver lagged amid weakness in chip stocks and concerns about industrial demand.
Levels to watch:
🥇Gold: Resistance $4,181 / $4,207; support $4,155 / $4,145, then $4,110.
🥈Silver: Resistance $59.77 / $60.61; support $58.74 / $57.64.
I’m staying selective into CPI. A cooler reading could ease rate pressure and support a bounce; a hot core print may keep metals capped and bring support levels into play. Silver looks more vulnerable. No need to chase.
Cash is a King's position. NFA.
Gold and silver edged lower in late U.S. trading Tuesday as traders trimmed risk ahead of CPI. Gold was around $4,159 (-0.3%), while silver fell to $59.03 (-1.9%).
Firm short-term yields, with the 2-year above 4.81%, and markets pricing roughly an 88% chance of a December Fed hike kept pressure on metals despite a softer dollar. Hormuz and U.S.–Iran tensions are adding uncertainty to oil, but haven’t created a clear inflation signal. Silver lagged amid weakness in chip stocks and concerns about industrial demand.
Levels to watch:
🥇Gold: Resistance $4,181 / $4,207; support $4,155 / $4,145, then $4,110.
🥈Silver: Resistance $59.77 / $60.61; support $58.74 / $57.64.
I’m staying selective into CPI. A cooler reading could ease rate pressure and support a bounce; a hot core print may keep metals capped and bring support levels into play. Silver looks more vulnerable. No need to chase.
Cash is a King's position. NFA.