Core CPI excluding food and energy slowed to 3.2%, slightly higher than market expectations. The possibility of further Fed rate cuts could support gold later this year, but the current policy stance limits upside.
US Treasury yields have fallen from 14-month highs, providing some relief to gold prices. Additionally, uncertainty surrounding global trade policy and geopolitical tensions is dampening selling pressure and preventing further declines in gold.
Silver shows slight uptick
Silver (XAG/USD) rose slightly, trading at 30.64, supported by a weaker dollar and lower bond yields. Amid mixed market sentiment and geopolitical uncertainty, metals benefit as an alternative safe-haven asset.
Market optimism about the potential for Fed policy has capped silver's strong gains, but its resilience highlights continued investor interest.
short term forecast
Gold is trading at 2694.63, below the pivot of 2697.33, indicating bearish momentum. Silver is stable at 30.64 and remains bullish above 30.55.
