đ„ Gold & Silver â Monday, Sep. 28 close
Tough session for precious metals. Gold closed at $4,115.50, down $168.70 (-3.94%). Silver finished at $60.51, down $3.66 (-5.70%).
Over the past three sessions, gold traded between $4,110 and $4,316, while silver ranged from $60.50 to $65.22.
Oil jumped after Trump rejected Iranâs plan to reopen the Strait of Hormuz. Yields moved higher, with the 10-year near 5.23%, its highest level since 2007. The dollar also firmed, with DXY around 101.16, and October rate-hike odds climbed to about 70%. Geopolitical tensions lent some support to gold, but rising yields had the stronger pull. Equities also closed lower. Brent was around $105.28 and WTI near $92.60.
What Iâm watching this week: JOLTS on Tuesday, PCE and ADP on Wednesday, ISM on Thursday, and NFP on Friday. Hot labor or inflation data could keep pressure on yields. Softer numbers might give metals room to bounce.
Key levels:
ïžđ Gold: $4,110 is the first support to watch. A move back above $4,163 could bring $4,199â$4,224 into play.
ïžđ„Silver: $60 is the level to hold. Above that, Iâm watching $60.89 and $62.35.
đąïžWith oil and yields still rising, Iâm in no hurry to buy the dip. Iâd want to see price hold and 10-year yields cool before looking for a long.
Bears still have the edge until the pressure from yields eases. âïžđąïžđ
TRADE $XAU , $XAG HEREđ
Tough session for precious metals. Gold closed at $4,115.50, down $168.70 (-3.94%). Silver finished at $60.51, down $3.66 (-5.70%).
Over the past three sessions, gold traded between $4,110 and $4,316, while silver ranged from $60.50 to $65.22.
Oil jumped after Trump rejected Iranâs plan to reopen the Strait of Hormuz. Yields moved higher, with the 10-year near 5.23%, its highest level since 2007. The dollar also firmed, with DXY around 101.16, and October rate-hike odds climbed to about 70%. Geopolitical tensions lent some support to gold, but rising yields had the stronger pull. Equities also closed lower. Brent was around $105.28 and WTI near $92.60.
What Iâm watching this week: JOLTS on Tuesday, PCE and ADP on Wednesday, ISM on Thursday, and NFP on Friday. Hot labor or inflation data could keep pressure on yields. Softer numbers might give metals room to bounce.
Key levels:
ïžđ Gold: $4,110 is the first support to watch. A move back above $4,163 could bring $4,199â$4,224 into play.
ïžđ„Silver: $60 is the level to hold. Above that, Iâm watching $60.89 and $62.35.
đąïžWith oil and yields still rising, Iâm in no hurry to buy the dip. Iâd want to see price hold and 10-year yields cool before looking for a long.
Bears still have the edge until the pressure from yields eases. âïžđąïžđ
TRADE $XAU , $XAG HEREđ
