Market sentiment is divided, in which President Raphael Bostic, President of Atlanta Fed, suggests space this year for two interest letings, while other FED officials remain careful due to persistent inflation problems. A weaker dollar usually supports gold prices because it makes the metal cheaper for foreign buyers.
Gold’s Safe Haven Appeal in the midst of commercial security
Concern about the former proposed rates of the former US President Donald Trump, who can escalate in a global trade war, stimulate the profession of Gold as a safe haven. Investors are careful with the potential economic impact of these commercial restrictions, which leads to an increased demand for gold as a cover against uncertainty.
Moreover, the fear of the increasing inflation of this policy continues to support the value of Gold, because the metal is often considered a reliable wealth shop in inflationary periods.
Silver is stuck in the midst of industrial demand and weakness in the dollar
Silver (XAG/USD) is traded at $ 32.78 and experiences a slight dip into an Intrad-Day low of $ 32.74 due to mixed market signals. However, the metal remains well supported by strong industrial demand and a weaker US dollar, which increases its attractiveness for investors.
In contrast to gold, silver benefits from its dual role as both a safe port activa and an industrial metal, which keeps the bullish trend intact.
Short -term prediction
Gold remains bullish above $ 2,918.46, aimed at $ 2,955.72. A break below can see $ 2,880.80. Silver supports bullish momentum above $ 32.55.