No new for copper price by its fluctuating below $5.9700 barrier, which obstructs the chances of achieving any new gains, to increase the chances of activating the bearish corrective track again, therefore, we will keep waiting to decline towards the corrective stations that are located near $5.7500 reaching the initial support at $5.5800 level.
Note that the success in breaching the barrier and holding above it will reinforce the chances of resuming the main bullish attack, to expect reaching $6.1200 directly, then press on the resistance of the main bullish channel’s resistance at $6.2000.
The expected trading range for today is between $5.7500 and $5.9700
Trend forecast: Fluctuating within the bullish trend
No new for copper price by its fluctuating below $5.9700 barrier, which obstructs the chances of achieving any new gains, to increase the chances of activating the bearish corrective track again, therefore, we will keep waiting to decline towards the corrective stations that are located near $5.7500 reaching the initial support at $5.5800 level.
Note that the success in breaching the barrier and holding above it will reinforce the chances of resuming the main bullish attack, to expect reaching $6.1200 directly, then press on the resistance of the main bullish channel’s resistance at $6.2000.
The expected trading range for today is between $5.7500 and $5.9700
Trend forecast: Fluctuating within the bullish trend
Silver (XAG/USD) rally extends for the second straight day on Monday, with buyers pushing prices to a new record high of $86.23 a troy ounce, posting daily gains of nearly 7.50%, courtesy of the US Department of Justice, which has indicted the Federal Reserve (Fed) Chair Jerome Powell, over the renovations of the Fed’s buildings. At the time of writing, XAG/USD trades at $85.90.
XAG/USD Price Forecast: Technical outlook
Silver’s daily chart shows a parabolic move, further confirmed by the Relative Strength Index (RSI) turning overbought. Nevertheless, due to the strength of the uptrend, RSI’s most extreme overbought level would be the 80 threshold.
If XAG/USD clears the $86.00 level, the next immediate resistance would be $86.50. A breach of the latter would expose $87.00.
Conversely, if Silver slides below $85.50, the next support would be $85.00, followed by the latest cycle high hit on December 29 at $83.75.
XAG/USD Price Chart – Daily
Silver 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.
American Express Company (AXP) stock price recorded a pullback in its latest intraday trading, influenced by the stabilization of the key resistance level at $387.50, as the stock attempts to build positive momentum that could help it break above this resistance later on. This comes amid continued dynamic support from trading above its SMA50, which reinforces the stability and dominance of the main short-term upward trend, with price action moving along a supportive trend line.
Therefore we expect the stock price to rise in upcoming trading, but only if it first succeeds in breaking above the $387.50 resistance level, to target the next resistance at $410.00.
Political noise in the United States boosted demand for the safe-haven metal.
The US Consumer Price Index is foreseen up by 2.7% YoY in December.
XAU/USD trades above $4,600, maintaining its positive momentum.
Spot Gold reached fresh all-time highs on Monday, nearing the $4,630 mark and trading nearby in the American session. The US Dollar (USD) fell on the back of political tensions in the United States (US) on the back of fresh tensions between President Donald Trump and Federal Reserve’s (Fed) Chair Jerome Powell.
The US Department of Justice opened a probe into Powell over the renovations of the central bank’s headquarters, and accused him of lying before Congress. Chair Powell responded: “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”
Meanwhile, US President Trump continues his campaign to take over Greenland. The Danish region, rich in rare earth elements and other minerals, has become the latest target of Trump. Let’s not forget he also pledged to “help” the Iranian people, after days of widespread protest against the government.
The same catalysts pushed investors into safe-haven gold, sending XAU/USD to record highs.
Meanwhile, investors await fresh US data. The country will release the December Consumer Price Index (CPI) on Tuesday. Annual inflation, as measured by the CPI is foreseen at 2.7% YoY in the month, up from the 2.6% posted in November. The monthly increase is foreseen at 0.3%, matching the previous month’s reading.
XAU/USD short-term technical outlook
The 4-hour chart shows that XAU/USD is extremely overbought, but shy downward corrections suggest buyers are still willing to push it higher. The 20-period Simple Moving Average (SMA) stands above the 100 and 200 SMAs, and all three slope higher, underscoring a firm bullish bias, with the 20 SMA at $4,502.36 offering nearby dynamic support. At the same time, the Momentum indicator eases from extreme levels, while the Relative Strength Index (RSI) indicator stands at 76, also losing upward momentum. A firmer pullback would be cushioned by the 100 SMA at $4,430.87-
In the daily chart, XAU/USD is poised to extend its advance. The 20-day SMA climbs above the 100- and 200-day SMAs, all of them far below the current level. Meanwhile, the Momentum indicator aims north within positive levels, while the RSI indicator accelerates higher, now at 71, without any sign of upward exhaustion.
(The technical analysis of this story was written with the help of an AI tool.)
U.S. Natural Gas Fund (UNG) showed a roughly 4% gain in premarket trading, bouncing back after a steep fall on Friday.
NYMEX February natural gas futures edged up early Monday as traders reevaluated U.S. temperature forecasts.
Attention shifts to Thursday’s EIA storage report, with traders watching to see if mid-January’s cold snap impacts demand.
Shares of the United States Natural Gas Fund (UNG) showed gains in Monday’s premarket, following a rebound in U.S. natural gas futures. The bounce comes after a selloff late last week, driven by forecasts for warmer weather. (Investing)
This shift is crucial since weather has been behind the daily swings in gas prices, with traders relying on funds like UNG to play short-term moves. Winter demand can flip fast, and the market responds just as swiftly.
The stage is set for a volatile week. A change in the mid-January temperature forecast or Thursday’s storage report could jolt the front-month contract—and ripple through gas-linked ETFs.
UNG last traded pre-market at $10.79, per Investing.com, after closing Friday at $10.40—a 7.72% drop. Volume hit about 41.1 million shares Friday, far exceeding its three-month average near 15.9 million, the data revealed. (Investing)
February Henry Hub natural gas futures hovered near $3.26 per million British thermal units (mmBtu) early Monday, gaining roughly 3% on the day following a drop to a 2.5-month low last Friday. (Barchart)
The rebound comes after new model forecasts showed colder weather spreading over much of the country, despite forecasts for weak near-term demand lasting a few days. (TradingView)
“Daily weather-driven demand could hit a short-term low” before bouncing back, EBW Analytics senior analyst Eli Rubin said in a note picked up by Dow Jones Newswires. He also pointed to “increasing consensus” around a “chilly back half of January.” (Fastbull)
Storage continues to weigh heavily. According to the EIA, working gas in underground storage was 3,256 billion cubic feet for the week ending Jan. 2, marking a 119 Bcf drop from the previous week. Inventories remained roughly 31 Bcf above the five-year average but were down 3.6% compared to the same time last year, the agency’s data revealed. (EIA Information Releases)
Leverage is pushing the moves further. ProShares Ultra Bloomberg Natural Gas (BOIL), a 2x leveraged fund, dropped roughly 13.6% in the last session. Meanwhile, the inverse ProShares UltraShort Bloomberg Natural Gas (KOLD) climbed about 13.9%.
That said, the outlook isn’t one-sided. Should forecasts turn warmer once more, or if storage withdrawals fall short of projections, the front-month contract might slip back toward last week’s lows, dragging the ETFs down too.
Silver price surged high in its last intraday trading, to breach the historical resistance level at $81.00, this resistance represents our expected targe in our previous analysis, approaching from recording new all-time highs, amid the continuation of the dynamic support that is represented by its trading above EMA50, reinforcing the strength and stability of the main bullish trend on the short-term basis, especially with its trading alongside trendline, on the other hand, we notice the emergence of negative signals from the relative strength indicators, after reaching overbought levels, which might reduce the upcoming gains.
Platinum price leaned in its last trading above %2.0 Fibonacci extension level at $2230.00, to form strong bullish rally this morning to surpass the barrier at $2320, recording some gains by hitting $2375.00 level.
Despite the continuation of the main indicators’ contradiction, the stability above $2320.00 will provide a chance for resume the bullish attempts, to expect targeting $2415.00, to repeat the pressure on the resistance at $2467.00.
The expected trading range for today is between $2265.00 and $2415.00
Silver price (XAG/USD) extends its gains for the second successive day, trading around $83.10 per troy ounce during the Asian hours on Monday. Precious metals, including Silver, attract buyers as safe-haven demand rises amid escalating geopolitical tensions.
Investors closely watched nationwide protests in Iran, now in their third week and reportedly claiming hundreds of lives. US President Donald Trump warned Tehran against using force on demonstrators and signaled possible action if the crackdown intensifies, while Iranian officials cautioned against any US or Israeli intervention.
Bloomberg reported that European countries led by the UK and Germany are considering increasing their military presence in Greenland to bolster Arctic security. Germany may propose a joint NATO mission, while UK Prime Minister Keir Starmer has urged allies to strengthen efforts in the High North, following renewed remarks by US President Donald Trump calling for US ownership of Greenland.
Safe-haven demand for Silver also rises as traders turn cautious amid concerns surrounding the Federal Reserve. Federal prosecutors have opened a criminal investigation into Fed Chair Jerome Powell regarding the central bank’s renovation of its Washington headquarters and whether Powell lied to Congress about the project’s scope, the New York Times reported on Sunday.
Markets also assessed the likelihood of further Fed rate cuts after Friday’s jobs report showed job growth fell short of expectations. US Nonfarm Payrolls (NFP) rose by 50,000 in December, falling short of November’s 56,000 (revised from 64,000) and came in weaker than the market expectation of 60,000.
Traders continue to price in two Fed rate cuts this year, though the central bank is widely expected to keep policy unchanged later this month. According to the CME Group’s FedWatch tool, Fed funds futures continue to price in about a 95% probability that the US central bank will keep rates unchanged at its January 27–28 meeting.
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.
Gold is holding its profit-taking pullback from fresh record highs just above $4,600 on Monday, starting the week with a bang, courtesy of escalating geopolitical tensions and intensifying concerns over the US Federal Reserve’s (Fed) independence, which both induce a full-fledged risk-off environment.
Gold remains exposed to upside risks
Investors flock to safety in the traditional store of value, Gold, digesting the weekend’s reports that US President Donald Trump is weighing a series of potential military options in Iran, following days of civil unrest and should the Iranian regime use lethal force against civilians.
Further, ongoing tensions between Russia and Ukraine also add to the risk-off market mood. The United Nations Security Council called for an emergency meeting on Monday after Russia used its new Oreshnik hypersonic ballistic missile on Friday in a major strike on Ukraine.
Moreover, markets also remain wary over the Fed’s independence after US federal prosecutors opened a criminal investigation into Chair Jerome Powell regarding the central bank’s renovation of its Washington headquarters.
In response, Powell called out on Trump’s attacks, saying that the” new threat is not about his testimony or the renovation project but a pretext.”
These factors, combined with increased odds of interest rate cuts by the Fed this year, continue to undermine the USD, while boosting the sentiment around the non-yielding Gold.
Data on Friday showed that Nonfarm Payrolls increased by 50,000 jobs last month after a downwardly revised rise of 56,000 in November and against the expected gain of 60,000 jobs. The Unemployment Rate dipped to 4.4% in December, compared to the estimated 4.5% reading.
Attention now turns to the US Consumer Price Index (CPI) data for December, which will inject fresh volatility in the market. The data will be critical to gauging the chance of a March Fed rate cut, the odds of which currently sit at about 30%, according to the CME Group’s FedWatch tool.
In the meantime, geopolitical developments and worries over the Fed’s autonomy will continue to drive Gold price action.
Gold price technical analysis: Daily chart
In the daily chart, XAU/USD trades at $4,575.47. The 21- and 50-day Simple Moving Averages (SMAs) advance and remain below price, underscoring firm bullish momentum. Shorter SMAs sit above the 100- and 200-day ones, with all slopes rising and buyers in control. The 21-day SMA at $4,403.01 offers nearby dynamic support. The Relative Strength Index (14) prints 69 (near overbought), in line with strong momentum; a pause could emerge if it pushes above 70. A dip would target the 50-day SMA at $4,243.70.
Longer-term SMAs reinforce the uptrend as the 100-day rises to $4,032.27 and the 200-day to $3,674.30, both well beneath price. The bullish alignment of shorter above longer averages supports an extension while pullbacks hold above the 21-day and 50-day SMAs. RSI at 69 stays just below overbought, keeping momentum strong but leaving room for brief consolidation if it cools toward 60. Initial support is layered at $4,403.01–$4,243.70, while the broader bullish bias would persist above the rising 100-day SMA.
(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.
