Gold (XAU/USD) continues to decline, trading near 2,695, as expectations grow for the Fed to pause rate cuts. A stronger US dollar and higher Treasury bond yields have weighed on gold’s appeal. The latest CPI data showed a 0.4% rise in December, pushing annual inflation to 2.9%. Although there’s potential for future rate cuts, the current policy limits gold’s upside.
Silver (XAG/USD) shows modest gains at 30.64, supported by a weaker dollar and easing bond yields, with market optimism helping silver hold steady.
Short-Term Forecast
Gold remains bearish below 2697.33, with support at 2658.80. Silver stays bullish above 30.55, with resistance at 31.09.
Technical Analysis
Gold faces resistance at 2720.76, while silver sees resistance at 31.09. Both metals show cautious market sentiment, but silver is showing more resilience.
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