GOLD & SILVER PRICE FORECAST BULLISH AS PRECIOUS METALS REACT TO DOVISH FED, SOFTER REAL YIELDS, WEAK US DOLLARTreasured metals like gold (XAU
GOLD & SILVER PRICE FORECAST BULLISH AS PRECIOUS METALS REACT TO DOVISH FED, SOFTER REAL YIELDS, WEAK US DOLLAR
- Treasured metals like gold (XAU/USD) and silver (XAG/USD) look positioned to stretch larger
- Gold and silver outlook is constructive on the again of patiently dovish steerage from the Fed
- Broad-based US Greenback weak spot and falling actual yields stand to bolster gold and silver costs
- Try the DailyFX Schooling Middle or learn up on these high gold buying and selling methods
Gold and silver costs turned sharply larger off session lows on Wednesday to shut out on constructive notes. XAU/USD gained floor with XAG/USD as valuable metals popped on the again of a broadly weaker US Greenback. This got here in response to the newest Fed replace, which echoed how the central financial institution plans to depart its coverage path unchanged for the foreseeable future.
GOLD PRICE CHART WITH SILVER & TEN-YEAR TREASURY YIELD OVERLAID: 5-MINUTE TIME FRAME (28 APRIL 2021 INTRADAY)
Chart by @RichDvorakFX created utilizing TradingView
Dovish Fed coverage steerage stands to maintain exerting downward strain on actual yields and the US Greenback. In flip, these sometimes bullish elementary drivers for valuable metals look to assist information gold and silver costs larger. Different anti-fiat property, like Bitcoin and Ethereum, may piggyback on this theme as properly. Try this gold worth forecast for key breakout ranges to observe with FOMC within the rearview mirror.
— Written by Wealthy Dvorak, Analyst for DailyFX.com
Join with @RichDvorakFX on Twitter for real-time market perception
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