Goud is a trading company near Record Highs, recently hit $ 3.005.04 before he withdrew. Traders keep a close eye on the Federal Reserve policy announcement, because a Dovish attitude could support both gold and silver. Lower interest rates reduce the alternative costs of keeping non-yield assets, making precious metals more attractive.
Gold’s resilience is fed by economic problems, the demand for safe haven and a strong purchase interest on price dips. A break above $ 3.005.04 can indicate a clear profit at $ 3,150, while the support levels at $ 2,978.50 and $ 2,880.25 criticism remain for downward protection.
FED policy and economic reports can stimulate volatility
The Federal Reserve is generally expected to keep rates stable at 4.25% – 4.50%, with traders focus on the prospects of the central bank for inflation and growth. The “Dotplot” projections of the FED and the press conference of Jerome Powell will be the key to measuring future policy movements.
In addition, the retail sales report of Monday will offer new insights in trends for consumer expenditure. A weak reading can assume the fear of the recession and increase the demand for silver as a cover, while stronger data can reduce the inflow of safe port. Housing market reports, business income and developments for trade policy will also be a sentiment this week.
Silver Market Prognast: Consolidation with Potential Breakout
Silver’s short -term direction depends on the tone and economic data of the FED. A Dovish -Fed and Weak Retail Trade can stimulate prices higher, while strong economic data or ragless comments can limit profits. Traders must look out for an outbreak above $ 34.08 or a breakdown below $ 32.53 to confirm the next step.