Gold, silver, and copper prices remain stable, reflecting the market’s focus on upcoming U.S. inflation data and Federal Reserve communications regarding interest rate policies. Meanwhile, copper rebounds towards 11-month highs on speculation of potential production cuts in China.
Gold Prices Forecast
Gold continues its bullish trajectory, currently trading at $2264.34, marking a 1.25% increase. With robust support observed at $2250.11, gold’s immediate resistance levels lie at $2273.31, $2288.22, and $2306.08, indicating further upward potential. Support levels at $2233.78, $2217.46, and $2203.47 safeguard against declines, with the 50-day and 200-day EMAs reinforcing the bullish trend.
Silver Prices Forecast
Silver maintains a positive trend, priced at $25.2125, with a 0.78% increase. The pivot point at $24.97 suggests a bullish bias, with resistance levels at $25.34, $25.78, and $26.13. Support levels at $24.39, $24.07, and $23.68 offer downside protection, while the 50-day EMA and upward trendline indicate sustained uptrend momentum.
Copper Prices Forecast
Copper’s market trend remains optimistic, reaching $4.06, reflecting a 1.08% rise. The pivotal mark at $4.05 guides the bullish sentiment, with resistance levels at $4.09, $4.13, and $4.17. Support levels at $4.00, $3.96, and $3.91 provide cushioning against declines, reinforced by the 50-day and 200-day EMAs and the upward trendline.
Overall, market sentiment remains bullish above key levels for each metal, with upcoming economic events and market responses likely to influence price movements. Traders are advised to stay informed and monitor developments closely.
