Investors also see American trade policy developments, in particular potential rates that can influence global growth. Protectionist policy has historically driven the demand for gold as a safe port active, with concern about the fact that economic Fallout is pushing investors in the direction of precious metal.
Silver is above $ 30.80 as a dollar strength pressure prices
Silver (XAG/USD) acts around $ 30.86, after he has touched an intra-day low of $ 30.80 because the strength of the US dollar on his headpotential. The Federal Reserve decision to keep the rates unchanged has strengthened support for the dollar, making silver less attractive in the short term.
Nevertheless, silver remains in the demand in the midst of commercial security and potential economic delays in important production regions. Now that industrial demand plays an important role in the valuation of Silver, market participants follow the global production trends and disruptions of the supply chain for instructions about future price promotion.
Traders are now looking ahead to Thursday’s European Central Bank (ECB) policy decision, which can influence the global risk sentiment. In addition, the prece -index of Friday will be the US Personal Consumption Easters (PCE), an important fed inflation meter, crucial in determining the next move for gold and silver.
With uncertainty about interest rates, trade policy and global growth, gold and silver prices will probably remain sensitive to economic data and policy shifts in the coming weeks.
Short -term prediction
Gold remains in a consolidation phase, which is held above $ 2,752. An outbreak above $ 2,782 could continue to activate further upside down, while not keeping support can lead to a decrease to $ 2,717. Silver faces resistance of $ 30.98, with a triple top pattern possible draining profits. An outbreak could push prices to $ 31.25, while not holding $ 30.61 can generate a pullback.