Platinum price reached $2335.00 level by its bullish rally, to approach the suggested initial target in the previous report, forcing it to form bearish corrective waves due to its neediness to the positive momentum, to settle below %161.8 Fibonacci extension level at $2245.00, to suffer some losses by reaching $2010.00.
The continuation of facing negative pressures that might force it to attack extra support at $1950.00, where breaking it will open the way for resuming the corrective decline to target $1865.00 reaching $1780.
The expected trading range for today is between $1900.00 and $2250.00
Silver price (XAG/USD) plunged over 10% after two days of gains, trading around $77.00 per troy ounce during the Asian hours on Thursday. Silver prices fall as precious metals face renewed selling pressure and increased volatility.
Dollar-denominated precious metals, including Silver lose ground amid a stronger US Dollar (USD), fueled by hawkish signals from the Federal Reserve (Fed) and expectations of a slower pace of US rate cuts.
Fed Governor Lisa Cook said she would not back another cut without clearer evidence that inflation is easing, stressing greater concern over stalled disinflation than labor market weakness.
Investors also weighed the implications of Kevin Warsh’s nomination as Fed chair, citing his preference for a smaller balance sheet and a less aggressive approach to rate reductions. Meanwhile, US President Donald Trump said he would not have nominated Warsh if he favored rate hikes. Trump further stated that there was “not much” doubt the US central bank would lower rates because “we’re way high in interest,” but now “we’re a rich country again.”
The safe-haven demand for Silver fades amid geopolitical tensions, which eased after the US and Iran are set to hold a new round of talks on Friday, though the agenda remains unclear. Tehran aims to limit discussions to its nuclear program, while Washington wants to include ballistic missiles, regional militant support, and human rights concerns.
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.
Coffee price succeeded in activating the previously suggested negative trend by reaching below 334.20 support, forming a strong decline, achieving the initial target by reaching 314.85 level.
Note that stochastic stability within the oversold level will increase the negative pressure in the current period, to form new bearish waves to reach 308.00, to press on 300.50 support to find an exit for resuming the negative trading in the upcoming period.
The expected trading range for today is between 300.50 and 325.00
Copper price announced delaying the bullish trend by providing new negative closure below $5.9700 level, affected by stochastic negativity, forming some bearish corrective waves to settle near $5.7500.
The continuation of suffering negative pressures will increase the efficiency of the bearish corrective track in the near period, which makes us prefer targeting $5.6200 level, repeating the pressure on the extra support at $5.5100, forming confirmation key for the trend of the medium trading.
The expected trading range for today is between $5.6200 and $5.9200
Gold is experiencing some volatility in Thursday’s Asian trading, moving back and forth in a roughly $200 range. Traders now look forward to the US JOLTS Job Openings data and geopolitical developments between the US and Iran for a clear directional impetus.
Gold struggles amid mixed fundamentals
Gold settled flat near $4,950 on Wednesday after witnessing two-way business. Initially, the traditional safe haven rebounded firmly to test the $5,100 level on uncertainty over the US Federal Reserve’s (Fed) potential monetary policy outlook under Kevin Warsh. The Fed concerns undermined the US Dollar (USD) across the board.
Meanwhile, rekindled geopolitical tensions in the Middle East and between Russia and Ukraine also provided a much-needed relief to Gold buyers, alongside increased concerns over the economic data disruption caused by the US partial government shutdown that ended on Tuesday.
However, the tide turned against the USD in the American session on Wednesday, following the release of the US ISM Services PMI data, which showed signs of a pick-up in inflation. Further, the tech sell-off on Wall Street gathered steam and spooked markets, as investors ran to the world’s reserve currency, the Greenback, for some solace.
The sell-off in the Japanese Yen (JPY)due to increased fiscal and political concerns boosted the USD/JPY pair, in turn, lifting the USD.
This reversal in the USD, fuelled a sharp pullback in Gold, but dip buyers once again jumped in near the $4,950 psychological level.
In Thursday’s trading so far, Gold is back in the red, having faced rejection again above the $5,000 key resistance. The USD extends its upbeat momentum, clinching fresh two-week highs against its six major currency rivals, as market mood worsens amid a global tech sell-off.
A meltdown in global providers of data analytics, professional services and software followed Anthropic’s launch of plug-ins for its Claude Cowork agent on Friday, which raised concerns about AI-fuelled disruption to those industries, per Reuters.
Looking ahead, the delayed US JOLT Job Openings Survey could help Gold buyers cut their losses, especially if the data doubles down on two Fed rate expectations for this year.
However, if the JPY extends its downward spiral against the USD, Gold could see another bout of intense selling.
Gold price technical analysis: Daily chart
The 21-, 50-, 100- and 200-day Simple Moving Averages (SMA) all rise, with the 21-day above the longer ones, underscoring a firm bullish structure. Price holds above these gauges, keeping buyers in control. The 21-day SMA at $4,827.45 offers nearby support, while the 50-day sits at $4,532.68. The Relative Strength Index (14) stands at 52.58, neutral after easing from prior extremes, indicating momentum is consolidating.
The upward alignment of the SMAs supports a buy-on-dips stance while the price holds above the short-term average. A deeper pullback would bring the 100-day SMA at $4,271.21 into view, with the 200-day at $3,821.77 underpinning the broader trend. RSI holding above the 50 midline would keep the bullish bias intact, whereas a drop back below it could open room for a broader retracement.
(The technical analysis of this story was written with the help of an AI tool.)
Economic Indicator
JOLTS Job Openings
JOLTS Job Openings is a survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers including retailers, manufacturers and different offices each month.
Important DisclaimersFXEmpire is owned and operated by Empire Media Network LTD., Company Registration Number 514641786, registered at 7 Jabotinsky Road, Ramat Gan 5252007, Israel. The content provided on this website includes general news and publications, our personal analysis and opinions, and materials provided by third parties. This content is intended for educational and research purposes only. It does not constitute, and should not be interpreted as, a recommendation or advice to take any action, including making any investment or purchasing any product. Before making any financial decision, you should conduct your own due diligence, exercise your own discretion, and consult with competent advisors. The content on this website is not personally directed to you, and we do not take into account your individual financial situation or needs. The information contained on this website is not necessarily provided in real time, nor is it guaranteed to be accurate. Prices displayed may be provided by market makers and not by exchanges. Any trading or other financial decision you make is entirely your own responsibility, and you must not rely solely on any information provided through the website. FXEmpire does not provide any warranty regarding the accuracy, completeness, or reliability of any information contained on the website and shall bear no responsibility for any trading losses you may incur as a result of using such information. The website may include advertisements and other promotional content. FXEmpire may receive compensation from third parties in connection with such content. FXEmpire does not endorse, recommend, or assume responsibility for the use of any third-party services or websites. Empire Media Network LTD., its employees, officers, subsidiaries, and affiliates shall not be liable for any loss or damage resulting from your use of the website or reliance on the information provided herein.Risk DisclaimersThis website contains information about cryptocurrencies, contracts for difference (CFDs), and other financial instruments, as well as about brokers, exchanges, and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and involve a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. FX Empire encourages you to conduct your own research before making any investment decision and to avoid investing in any financial instrument unless you fully understand how it works and the risks involved.
The GBPJPY pair benefited from providing bullish momentum by the main indicators, especially with stochastic reach towards 80 level, forming a strong bullish rally to surpass the barrier at 213.00, to settle above the bullish channel’s support at 213.55 level, to target some extra gains by reaching 214.30.
The stability above the bullish channel’s support will provide strong chance of recording extra gains; to expect to form initial target at 214.90 level and surpassing it might extend the trading in the near period towards 215.55 and 216.35.
The expected trading range for today is between 213.80 and 214.90
Platinum price benefited from positive stability above $1950.00 support, reinforcing the bullish scenario to rally $2275.00, achieving the initial suggested targets in the previous report.
No escape from forming new bullish waves, due to the bullish momentum by the main indicators, to expect its rally towards $2340.00, attempting to test $2425.00 resistance, forming a detecting key for the main targets in the upcoming period trading.
The expected trading range for today is between $2140.00 and $2400.00
Silver (XAG/USD) shows moderate gains on Tuesday, trading at $87.05 at the time of writing. The white metal found some footing after plummeting more than 30% in the previous two trading days, hitting one-month lows right below the $72.00 line.
Contrary to their usual behaviour, precious metals are recovering on Tuesday amid a brighter market sentiment. A trade deal between the US and India and news about upcoming nuclear talks with Iran have improved investors’ mood and are boosting demand for risky assets.
Technical Analysis: XAG/USD immediate resistance is at $88.00
XAG/USD has trimmed some losses, but technical indicators are still at levels highlighting a bearish momentum. The Moving Average Convergence Divergence (MACD) remains below the Signal line and the zero mark, while the negative histogram contracts toward zero. The Relative Strength Index (RSI) edges higher, hinting at ∑ unwinding negative pressure, but remains below the key 50 level.
On the upside, the pair is likely to meet resistance at Monday’s highs, in the $88.00 area. A confirmation beyond here would shift the focus towards the $100.00 round level and the intra-day resistance in the $104.00 area.
Support levels are at the $71.37 monthly low and below here, the early December highs, and mid-December lows in the $60.00 area.
(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.
The GBPJPY pair benefited from providing bullish momentum by the main indicators, especially with stochastic reach towards 80 level, forming a strong bullish rally to surpass the barrier at 213.00, to settle above the bullish channel’s support at 213.55 level, to target some extra gains by reaching 214.30.
The stability above the bullish channel’s support will provide strong chance of recording extra gains; to expect to form initial target at 214.90 level and surpassing it might extend the trading in the near period towards 215.55 and 216.35.
The expected trading range for today is between 213.80 and 214.90
