Natural gas price surrendered to the main indicators negativity by providing new bearish pressures on the bullish channel’s support at $3.000 level as appears in the above image, the attempt of 3.520 level to form extra barrier might increase the chances of surrendering to the negative pressures, by breaking the current support, to confirm its move to bearish track by targeting several negative stations that might begin at $2.850 and $2.660.
We notice the continuation of stochastic fluctuation near 20 level, to increase the chances of gathering the required negative momentum to achieve the break then begin targeting the previously suggested negative stations.
The expected trading range for today is between $2.850 and $3.180
Platinum price began receiving bullish momentum due to stochastic rally above 50 level, accompanied by the moving average 55 attempt to form extra support by its stability below the current trading, to begin forming bullish waves and settle near $2090.00.
The attempt of forming extra support at $2020.00 level reinforces the chances of renewing the bullish attempts, to keep our bullish scenario that might target $2165.00 level soon, reaching near $2245.00 barrier.
The expected trading range for today is between $2020.00 and $2165.00
Silver (XAG/USD) struggles to capitalize on its gains registered over the past two days and oscillates in a narrow range during the Asian session on Friday. The white metal currently trades around the $78.25-$78.30 region, nearly unchanged for the day, and remains close to a one-week high, touched on Thursday.
From a technical perspective, this week’s breakout through a one-week-old ascending trend-channel resistance, which coincided with the 100-hour Simple Moving Average (SMA), was seen as a key trigger for the XAG/USD bulls. The 100-hour SMA has flattened around $76.32 after a modest rise, and spot prices hold above it to preserve an intraday bullish bias.
Meanwhile, the Moving Average Convergence Divergence (MACD) line sits marginally below the Signal line near the zero mark, with a slightly negative histogram that points to subdued momentum. However, the Relative Strength Index (RSI) stands at 55, neutral with a mild upward tilt. Moreover, acceptance above the 100-period SMA underpins the breakout structure.
A turn of the MACD histogram back to positive would reinforce upside follow-through. A firming RSI above 60 would signal strengthening momentum, while a drop beneath 50 would warn of fading impetus. The former descending channel hurdle at $75.58 could act as initial support on pullbacks, while deeper protection aligns with the channel floor near $70.31.
Absent fresh momentum, the XAG/USD could consolidate, but maintaining levels above the moving average would keep the near-term bias upward.
(The technical analysis of this story was written with the help of an AI tool.)
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Upbeat United States employment figures boosted demand for the Greenback.
The US macroeconomic calendar includes first-tier data on Friday.
XAU/USD extends its consolidative phase around $5,000 with a bearish tilt.
Gold price remains stuck around the $5,000 mark, unable to attract investors despite the market’s mood swings. The bright metal remains afloat despite the US Dollar (USD) strength following hawkish Federal Open Market Committee (FOMC) minutes, showing that, in the January meeting, officials noted that “a two-way description of the path of policy could be supported,” hinting at opening for interest rate hikes, should inflation keep pressing higher.
The Greenback gained additional strength early in the American session on Thursday, following the release of upbeat employment-related data: Initial Jobless Claims rose by 206K in the week ended February 14, much better than the expected 225K. Additionally, the Philadelphia Fed Manufacturing Survey improved to 16.3 in February ,much better than the 8.5 posted in the previous month. On a negative note, the Goods and Services Trade Balance posted a deficit of $70.3 billion in December, worsening from the $-53 billion posted in November.
Market participants are now waiting for Friday’s data, as the United States (US) will publish the December Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve (Fed)’s favorite inflation gauge. The core annual figure is foreseen at 2.9% after posting 2.8% in November, moving further away from the Fed’s goal of 2%.
The US will also publish the preliminary estimate of the Q4 Gross Domestic Product (GDP), with annualized growth foreseen at 3%, down from the 4.4% posted in Q3. Finally, S&P Global will release the flash estimates of the February Purchasing Managers’ Indexes (PMIs).
XAU/USD short-term technical outlook
From a technical point of view, the 4-hour chart shows XAU/USD is neutral, with a modest negative tilt. The pair keeps trading between a flat 20-period Simple Moving Average (SMA) providing support at $4,954 and a directionless 100 SMA capping the upside at around the current level. The 200-period SMA, in the meantime, maintains its bullish slope at around $4,860. Meanwhile, technical indicators turned modestly lower but remain just above their midlines.
In the daily chart, XAU/USD trades just below a mildly bullish 20-day SMA at $5,006.86, while the longer moving averages remain well below the current level, heading firmly north. The Momentum indicator turned higher and advances above its midline, while the Relative Strength Index (RSI) indicator heads nowhere at around 54. A daily close above the 20-day SMA would refocus upside pressure and expose the $5,030 price zone, while failure to hold above the $4,950 should open the door for a steeper decline.
(The technical analysis of this story was written with the help of an AI tool.)
The CHFJPY benefited by the repeated stability above the bullish channel’s support at 198.05 level, activating the bullish attack, to record several gains by reaching 200.85 attempting to settle above %50 Fibonacci correction level.
Providing bullish momentum by the main indicators will support our bullish expectation, to keep waiting for the price to reach $61.8Fibonacci correction level at 201.30, which might form an important obstacle against the bullish attempts, to push the price to provide mixed trading before breaching this barrier.
The expected trading range for today is between 199.85 and 201.30
Silver price (XAG/USD) extends its gains for the second successive session, trading around $78.00 per troy ounce during the Asian hours on Thursday. The precious metal Silver receives support from rising safe-haven demand amid persistent tensions between the United States (US) and Iran.
US-Iran talks remain unresolved, with Tehran citing a “general agreement” on the framework of a potential nuclear deal with US officials. Vice President JD Vance said Iran failed to meet US red lines, while President Donald Trump reiterated that military action remains an option. Reports indicate any US strike could turn into a prolonged campaign, with Israel advocating regime change in the Islamic Republic.
Meanwhile, Ukraine and Russia ended two days of peace talks in Geneva without progress. President Volodymyr Zelenskiy accused Moscow of stalling US-led efforts to end the four-year conflict. Trump has repeatedly pressed Ukraine to accept a deal that may involve significant concessions, as Russian forces continue striking energy infrastructure and advancing on the battlefield.
However, gains in dollar-denominated Silver may be capped as the US Dollar (USD) stays firm amid hawkish signals from the Federal Reserve (Fed). A stronger Greenback often reflects higher US yields, increasing the opportunity cost of holding non-yielding assets like Silver. The grey metal also becomes more expensive for holders of other currencies, reducing global demand.
Federal Open Market Committee (FOMC) Minutes from the January meeting revived speculation about potential rate hikes if inflation remains elevated. While most policymakers supported keeping rates unchanged, only a few favored a cut, and officials indicated they could ease policy if inflation moderates as expected. Traders modestly pared Fed rate cut bets but still expect two 25 basis points reductions before year-end.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Despite forming bullish wave by copper price and its stability near $5/7500, but it couldn’t confirm its readiness to activate the bullish attack, due to the continuation of the main indicators’ contradiction, besides the stability of the price below $5.9700 barrier.
Providing mixed trading when gathering extra negative momentum will make reach $5.5100 support, forming confirmation key for the main trend in upcoming trading, breaking this support will force it to resume the corrective decline, to expect reaching $5.3600 followed by $5.1000.
The expected trading range for today is between $5.5500 and $5.8500
Gold struggles below $5,000 in Thursday’s Asian trades as buyers take a breather after the 2% rally on Wednesday.
Gold remains supported by haven demand
Gold stood tall on Wednesday, despite the solid recovery in the US Dollar (USD) and US Treasury bond yields, fuelled by somewhat hawkish Minutes of the US Federal Reserve’s (Fed) January monetary policy meeting.
The Minutes suggested that the Fed remains in no rush to cut interest rates, with several policymakers open to rate hikes if inflation remains elevated, others inclined to support further cuts if inflation recedes.
However, the markets’ pricing for three 25 basis points (bps) Fed rate cuts this year remained intact, which seems to have supported the non-yielding Gold.
The main catalyst behind Gold’s upswing was the return of haven demand due to renewed geopolitical tensions. Two days of peace talks in Geneva between Ukraine and Russia ended without a breakthrough. Ukraine’s President Volodymyr Zelenskiy said he was dissatisfied with the outcome.
Meanwhile, CBS News reported, citing sources familiar with internal discussions, a potential US military strike on Iran could come as early as Saturday.
This comes after Iran’s Foreign Minister Abbas Araqchi said on Tuesday that Tehran has agreed with the US ‘on guiding principles’ for the deal, following their Geneva talks.
Against this backdrop, Gold seems to continue its recent upside but the US Dollar could have an upper hand heading toward Friday’s US PCE inflation and Gross Domestic Product (GDP) data.
The Greenback also draws support from the latest data released by the US Treasury Department, which showed a net inflow of $44.9 billion in Treasury International Capital (TIC) for December 2025. The data increased foreign appetite for US assets.
Next of note for Gold traders remains the US Jobless Claims, Pending Home Sales data and Fedspeak scheduled later in the North American session on Thursday.
Gold price technical analysis: Daily chart
The 21-day Simple Moving Average (SMA) rises above the 50-, 100- and 200-day SMAs, preserving a bullish alignment. Price holds below the 21-day SMA at $5,001.04 but remains above the 50-day SMA at $4,688.83 and the longer baselines, keeping the broader bias upward. The Relative Strength Index (14) sits at 53 (neutral), reflecting steady momentum. Measured from the $5,597.89 high to the $4,401.99 low, the 50% retracement at $4,999.94 acts as immediate resistance.
A daily close above $4,999.94 would expose the 61.8% retracement at $5,141.05, where recovery attempts could stall. Failure to reclaim the 21-day SMA would leave the rebound vulnerable, bringing the 38.2% retracement at $4,858.82 into view, while the rising 100-day SMA at $4,393.61 underpins the medium-term trend.
(The technical analysis of this story was written with the help of an AI tool.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
The CHFJPY benefited by the repeated stability above the bullish channel’s support at 198.05 level, activating the bullish attack, to record several gains by reaching 200.85 attempting to settle above %50 Fibonacci correction level.
Providing bullish momentum by the main indicators will support our bullish expectation, to keep waiting for the price to reach $61.8Fibonacci correction level at 201.30, which might form an important obstacle against the bullish attempts, to push the price to provide mixed trading before breaching this barrier.
The expected trading range for today is between 199.85 and 201.30
Despite forming bullish wave by copper price and its stability near $5/7500, but it couldn’t confirm its readiness to activate the bullish attack, due to the continuation of the main indicators’ contradiction, besides the stability of the price below $5.9700 barrier.
Providing mixed trading when gathering extra negative momentum will make reach $5.5100 support, forming confirmation key for the main trend in upcoming trading, breaking this support will force it to resume the corrective decline, to expect reaching $5.3600 followed by $5.1000.
The expected trading range for today is between $5.5500 and $5.8500
