Gold (XAU/USD) attracts some dip-buyers following the previous day's modest slide and climbs back above the $5,050 level during the Asian session on Wednesday.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.20 during the Asian trading hours on Wednesday. The WTI price holds steady as lingering geopolitical uncertainty offsets a significant build in US crude oil inventory.
Silver (XAG/USD) steadies following the previous day's modest pullback from the $84.00 mark and trades with a mild positive bias during the Asian session on Wednesday.
Gold price (XAU/USD) falls to near $5,045 during the early Asian session on Wednesday. Traders assess whether prices have found a floor following a historic sell-off.
Gold price turns negative during Tuesday’s session, even though worse than expected data in the US pushed investors to trim US Dollar shorts, pushing the yellow metal lower, but remaining above the $5,000 threshold. At the time of writing, XAU/USD trades with losses of 0.72% at $5,022.
West Texas Intermediate (WTI) US Oil trades around $63.90 per barrel on Tuesday, down 0.43% on the day at the time of writing. The Crude Oil remains under pressure as concerns about potential supply disruptions in the Middle East have partly faded.
Commerzbank’s Thu Lan Nguyen warns that unusually low gas storage levels in Germany and across the EU, combined with higher consumption and a flatter forward curve, raise the risk of price spikes and potential consumption restrictions.
The daily chart for spot Gold shows a broad uptrend that is holding above both the 50-day Exponential Moving Average (EMA) at 4,637 and the 200-day EMA at 3,954, confirming the longer-term bullish structure.
Silver (XAG/USD) trades with a negative bias on Tuesday, as mild profit-taking emerges after the metal surged more than 8% on Monday.
Commerzbank’s Barbara Lambrecht and Volkmar Baur report that Copper and broader base metals have eased from recent highs, with China’s influence on global metal demand growth declining compared to pre-pandemic years.
Gold (XAU/USD) shows marginal gains on Tuesday, but downside attempts are limited above the $5,000 psychological level, with the $5,100 resistance area nearby. Precious metals are looking for direction on Tuesday, with US Dollar weakness limiting downside attempts.
Gold (XAU/USD) struggles for direction on Tuesday, with overall trading activity subdued in the absence of fresh market-moving catalysts. At the time of writing, XAU/USD trades around $5,050, holding firm after briefly slipping below the $5,000 psychological level during the early Asian session.
Commerzbank’s Carsten Fritsch notes that Oil prices initially fell as indirect US–Iran talks in Oman reduced fears of a US strike, lowering the geopolitical risk premium.
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $82.63 per troy ounce, down 1.49% from the $83.88 it cost on Monday.
West Texas Intermediate (WTI) Oil price continues to trade higher for a third consecutive session, trading near $64.20 per barrel during early European trading on Tuesday.
Gold (XAU/USD) drifts lower during the Asian session on Tuesday and snaps a two-day winning streak, though it lacks strong follow-through selling and shows some resilience below the $5,000 psychological mark amid mixed cues.
Gold prices fell in India on Tuesday, according to data compiled by FXStreet.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.80 during the early Asian trading hours on Tuesday. The WTI price falls as concerns about supply disruptions in the Middle East have faded.
Gold price (XAU/USD) attracts some sellers near $5,035 during the early Asian session on Tuesday. The precious metal edges lower amid improved risk sentiment and some profit-taking. Traders brace for key US economic data later this week, including delayed employment and inflation reports.
The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.
Gold price (XAU/USD) remains bid during the North American session on Monday following reports that Chinese authorities recommended institutions to reduce exposure to US Treasuries or pare down their positions due to increased volatility. At the time of writing, XAU/USD trades at $5.074, up 2.16%.
West Texas Intermediate (WTI) US Oil advances on Monday and trades around $64.60 per barrel at the time of writing, up 2.00% on the day.
Silver pulled back sharply from its all-time high near 121.67 in late January, dropping over 40% before finding support around the 64.00 zone in early February.
TD Securities’ Senior Commodity Strategist Daniel Ghali argues that fear of US Dollar debasement, rather than actual money supply growth, has been a key driver of Gold prices.
Silver (XAG/USD) posts a strong advance at the start of the week and holds near $80.25 per ounce at the time of writing, up 3.60% on the day.
BNY Head of Markets Macro Strategy Bob Savage notes Gold remains elevated above $5,000 as it continues to correlate positively with equities, supported by Dollar weakness.
Gold (XAU/USD) appreciates for the second consecutive month on Monday, favoured by moderate US Dollar (USD) weakness. The yellow metal maintains the immediate bullish trend intact, but so far, is failing to find significant acceptance above the $5,000 psychhological level.
Gold (XAU/USD) holds firm on Monday, steadying after a turbulent end to last week as supportive fundamentals continue to underpin demand. At the time of writing, XAU/USD is trading around $5,010, up nearly 1.15% on the day, with the intraday high marked near $5,047.
The US benchmark West Texas Intermediate (WTI) Oil trades moderately higher on Monday, changing hands at $63.30 per barrel at the time of writing, but trapped within previous ranges and significantly below the $66.25 highs witnessed in late January.