Platinum price succeeded in renewing the bullish attack by its stability above $2085.00 level, activating with the main indicators’ positivity by its rally above $2235.00 barrier, and achieving clear gains by reaching $2335.00.
No escape from resuming the bullish attack, due to the continuation of providing bullish momentum by the main indicators to reach $2380.00, to attempt to press on the barrier at $2430.00 level, reinforcing the chances of reaching new historical stations in the near period.
The expected trading range for today is between $2235.00 and $2380.00
Gold is looking to build on the previous over 2.5% rally early Tuesday, retaking the $4,450 level as prospects of further US Federal Reserve (Fed) interest rate cuts this year continue to act as a headwind to the US Dollar (USD) recovery.
Gold cheers softer US Dollar, geopolitical woes
Gold has found fresh buyers, sitting at weekly highs above $4,450, after having dipped to near the $4,430 region earlier on. The latest leg up in Gold could be attributed to the renewed selling interest around the USD amid improving risk sentiment.
Markets shrug off the US-Venezuela geopolitical tensions, now viewing the US intervention as limited, shifting their focus back toward the expectations surrounding future rate cuts by the Fed heading in the US labor data releases due later this week.
The dovish Fed bets returned to the fore on Monday and smashed the USD alongside the US Treasury bond yields after the US ISM Manufacturing PMI declined to 47.9 in December, against the forecast of 48.3.
Slowing US economic momentum and labor market conditions continue to remain a drag on the Greenback, as markets now eagerly await the US ADP monthly Employment Change and JOLTS Job Openings data due on Wednesday before Friday’s Nonfarm Payrolls showdown.
However, if the geopolitical tensions over the US and Venezuela gather steam again, a fresh bout of USD buying could re-emerge on safe haven flows, which will likely cap the Gold price upside. All eyes are on China’s and Russia’s response to the US military aggression.
Meanwhile, the overthrown Venezuelan President Nicolas Maduro pleaded not guilty before a New York Federal court on Monday to multiple charges.
US President Donald Trump’s capture of him on Saturday rattled world leaders and left officials in Caracas scrambling to regroup, per Reuters.
Gold price technical analysis: Daily chart
In the daily chart, the 21-day Simple Moving Average (SMA) climbs above the 50-, 100-, and 200-day SMAs, signaling firm bullish alignment. All SMAs advance and the price holds above them, reinforcing buyers’ control. The 21-day SMA at $4,349.26 supports the near-term bias, while the 50-day SMA at $4,201.11 underpins the broader trend.
The 14-day Relative Strength Index (RSI) stands at 64.41, positive and shy of overbought, suggesting momentum favors the upside. Should pullbacks emerge, the rising 21-day SMA could cap losses, while a deeper retracement would look toward the 100-day SMA at $3,985.64. The bullish tone would persist while XAU/USD trades above these moving averages.
(The technical analysis of this story was written with the help of an AI tool)
Economic Indicator
ADP Employment Change
The ADP Employment Change is a gauge of employment in the private sector released by the largest payroll processor in the US, Automatic Data Processing Inc. It measures the change in the number of people privately employed in the US. Generally speaking, a rise in the indicator has positive implications for consumer spending and is stimulative of economic growth. So a high reading is traditionally seen as bullish for the US Dollar (USD), while a low reading is seen as bearish.
Silver price (XAG/USD) gains nearly 4%, trading around $75.50 during the European hours on Monday. The technical analysis of the daily chart timeframe suggests the price of the precious metal remains within an ascending channel pattern, suggesting a persistent bullish bias.
The 14-day Relative Strength Index (RSI) at 66.57 remains bullish without entering overbought territory. RSI has turned higher again, reinforcing improving bullish pressure.
The nine-day Exponential Moving Average (EMA) rises well above the 50-day EMA, and the XAG/USD pair holds over both, preserving an upward bias. Both averages maintain positive slopes after a sustained advance. Momentum stays supportive while the metal consolidates above the rising nine-day EMA, keeping the path of least resistance to the upside.
The short-term average remains bullish and keeps the topside in focus, and opens a path toward resistance at the upper boundary of the ascending channel around $83.10. A break above the channel would help the Silver price to approach the record high of $85.87, which was recorded on December 29, 2025.
On the downside, the immediate support aligns at the nine-day EMA of $72.38, followed by the lower ascending channel boundary around $72.10. A daily close below the channel would open a correction toward the 50-day EMA at $60.85.
XAG/USD: Daily Chart
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.
(The technical analysis of this story was written with the help of an AI tool.)
United States intervention in Venezuela spurred demand for safe-haven Gold.
The US ISM Manufacturing PMI contracted to 47.9 in December, worse than expected.
The XAU/USD pair is technically bullish after bouncing from its 20-day SMA.
Spot Gold trades around the $4,450 level on Monday, sharply up on a daily basis amid broad US Dollar (USD) weakness. The bright metal found support throughout the first half of the day on geopolitical turmoil, extending its advance afterwards on the back of poor United States (US) data.
The world found out on Saturday that US President Donald Trump ordered a strike on Venezuela, capturing President Nicolás Maduro and his wife and bringing them to the US to be judged on narco-terrorism, among other charges. The news triggered global noise and boosted demand for the safe-haven metal, as caution rules.
Early in the American session, the USD suffered a setback following the release of the December Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI). The index came in at 47.9, below the expected 48.3, and worse than the 48.2 posted in November. The report also showed that the Employment Index improved slightly to 44.9 from 44 in November, while the Prices Paid Index, the inflation component, remained unchanged at 58.5.
The US labor market will take centre stage this week, as the country will release multiple employment-related figures. The ADP employment Change report for December and November JOLTS Job Openings will be out on Wednesday, while weekly unemployment data will be released on Thursday, and the all-mighty Nonfarm Payrolls (NFP) report will be out on Friday.
XAU/USD short-term technical outlook
From a technical point of view, the 4-hour chart shows XAU/USD trades at $4,445.56, roughly $45.50 up for the day. The same chart shows the 20-period Simple Moving Average (SMA) has turned higher but still trails the rising 100-period SMA, both around the $4,370 level. The 200-period SMA, in the meantime, advances at $4,267 underpinning the broader structure. Also, the Momentum indicator stands above 0 and expands, signaling strengthening buying interest. Finally, the Relative Strength Index (RSI) indicator is heading north around 60, in line with the dominant bullish trend.
In the daily chart, XAU/USD bounced after testing a bullish 20-day SMA at $4,343, which also rose above the bullish 100- and 200-day SMAs, all of which reinforce the bullish bias. The Momentum indicator advances above its midline, while the RSI indicator has partially lost its upward strength at around 63, underpinning the broader uptrend.
(The technical analysis of this story was written with the help of an AI tool)
There are two indicators to note when looking to see if there is some significance to Monday’s new retracement low. An internal uptrend line was close to Monday’s low and marked potential dynamic support. More significant is the relationship to the 78.6% Fibonacci retracement at $3.45. It was broken to the downside earlier in Monday’s session but has since been recovered. Natural gas is on track to end the day with a bull hammer candle and a recovery of the 78.6% retracement, which will confirm with a daily close above the level. So, the daily close is set to show support near the Fibonacci level.
First Close Below 200-Day Average Since October
Despite the minor short-term signs of strength, today’s decline put natural gas below the 200-day moving average for the first time since late October, and it is set to close in a similar, relatively bearish position. Signs of strong support was possible near the 200-day line since it had not been tested as support after it was reclaimed at the end of October. The bearish failure confirmed by a daily close below the 200-day average today will suggest that downside pressure may yet remain.
Reclaim Levels Needed to Confirm Improving Demand
The 200-day line is now at $3.57, and Friday’s lower daily high is at $3.70. Although a reclaim of the 200-day average will show improving demand, a sustained breakout above a lower daily high will provide greater assurance that demand is continuing to improve and that the reclaim of the 200-day line may be sustainable.
If sellers remain in charge before a bounce, there is another potential target a little lower than what has been seen so far, at $3.26. That target is the 78.6% projection for a falling ABCD pattern that defines the measured moves of the bearish correction that followed the $5.50 peak in early-December.
For a look at all of today’s economic events, check out our economic calendar.
AT&T Inc. (T) declined in its latest intraday trading after colliding with resistance at its 50-day SMA, which exposed the stock to mounting negative pressure. This pressure intensified with the emergence of negative signals from the RSI after reaching severely overbought levels, exaggerated relative to price action, while the main bearish trend continues to dominate the short term.
Therefore we expect the stock price to decline in the upcoming trading sessions, as long as resistance at $25.00 holds, to target the key support level at $24.00.
The WTI crude oil price is showing signs of bottoming after hitting a key support level at $55.40. It has plunged by over 25% from its highest level in 2025 and is hovering near its lowest level in years.
WTI Crude Oil to React Mildly to Venezuela Crisis
Crude oil prices will be in the spotlight on Monday as the market comes to terms with the recent developments in Venezuela, where Donald Trump staged a major attack and arrested the country’s president.
In his press conference, Trump insisted that the United States will now be in charge of the country, with its large energy companies investing billions of dollars.
In theory, the fall of the Maduro regime should be bearish for oil prices. For one, with the US in control, it means that sanctions will be lifted and that production will be boosted.
However, in reality, Venezuela is still a small player in the oil market, producing less than 1 million barrels of oil a day. Also, American investments will take years to materialize. And worse, regime changes often lead to destabilization of countries and supply.
The other main catalyst for the WTI crude oil price will be the OPEC+ meeting in which officials are expected to stick with their plans to pause supply increases in the first quarter. The cartel increased supply rapidly last year, leading to concerns about oversupply in the market.
Meanwhile, the US will publish the first inventory report on Wednesday. The report by the EIA is expected to show that inventories dropped by over 1 million in the last week of the month.
Crude Oil Technical Analysis
The weekly chart shows that the WTI crude oil price has been in a strong downward trend in the past few months. It bottomed at $54.40, its lowest level in April and December last year.
Oil has formed a double-bottom pattern, which is made up of two lower swings and a a neckline, which is at $77.32.
However, technical indicators suggest that oil may continue falling in the near term. For one, the price remains below the 50-week and 100-week Exponential Moving Averages (EMA). The MACD and the Relative Strength Index (RSI) have continued falling in the past few weeks.
Therefore, the most likely oil forecast is neutral with a bullish bias. The bullish outlook will remain as long as it is above the double-bottom pattern point at $55.39. A drop below that level will point to more downside, potentially to $50.
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The EURJPY pair activated negatively with stochastic decline towards the oversold to test the bullish channel’s support at 183.45, attempting to settle above it to keep the bullish trend and begin targeting some bullish stations by its rally towards 184.40, and surpassing it will open the way for reaching the next positive target at 184.90.
While facing new negative pressure by reaching below the current support will confirm its surrender to the bearish corrective trend, which forces it to suffer extra losses by reaching 183.10 and 184.90.
The expected trading range for today is between 183.50 and 184.40
Copper price kept the positive stability above $5.5100 support in the last trading, to rally towards the initial target at $5.8100, taking advantage of stochastic stability within the overbought level.
The continuation of the pressure on $5.8100 level might allow it find an exit for resuming the bullish attack, to expect breaching $5.9700 to extend the trading towards the bullish channel’s resistance at $6.1700 level.
The expected trading range for today is between $5.6100 and $5.9700
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