Commodity Market Analysis And Over with Capital Street FX

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Gold and Silver Stay Bullish Ahead of Trump-Xi Talks; Crude and Natural Gas Hold Key Technical Levels.​

Gold and silver prices show cautious trading as markets await a potential Trump-Xi call amid ongoing trade tensions and geopolitical risks. Meanwhile, crude oil and natural gas hover near key levels, influenced by a stronger US Dollar, supply concerns, and mixed economic signals from global markets.

• Gold Holds Gains as Traders Await Trump-Xi Trade Talks
• Silver Eyes Breakout Above 2024 High Near $34.90
• Crude Oil Stays Firm Despite Dollar Strength, Supply Risks Loom
• Natural Gas Tests Key Resistance, Awaits Breakout Confirmation Signal

Gold (XAU/USD) fluctuates between modest gains and slight losses ahead of the European session on Wednesday, staying near a nearly four-week high reached the previous day. The US Dollar has held onto overnight gains from a six-week low, supported by hopes of potential talks between Presidents Trump and Xi Jinping. This, along with a generally positive sentiment in equity markets, weighs on the precious metal. However, investors remain cautious amid ongoing trade tensions and geopolitical risks. Concerns over the deteriorating US fiscal outlook also temper market optimism, providing some support to gold. Meanwhile, expectations that the Federal Reserve will maintain its easing stance and cut rates further in 2025 limit aggressive USD buying, helping to cap downside risks for the non-yielding metal.

• Moving Averages:
• Exponential:
• MA 10: 3325.6433 | Positive Crossover | Bullish
• MA 20: 3304.7270 | Positive Crossover | Bullish
• MA 50: 3225.7999 | Positive Crossover | Bullish

• Simple:
• MA 10: 3326.0296 | Positive Crossover | Bullish
• MA 20: 3294.0008 | Positive Crossover | Bullish
• MA 50: 3242.1949 | Positive Crossover | Bullish

• RSI (Relative Strength Index): 56.3554 | Buy Zone | Bullish

• Stochastic Oscillator: 90.7980 | Buy Zone | Neutral
• Resistance And Support Levels:
• R1: 3405.2599 | R2: 3480.1068
• S1: 3162.9588 | S2: 3088.1119

• Overall Sentiment: Bullish
• Market Direction: Buy
• Trade Suggestion: Limit Buy: 3338.00 | Take Profit: 3415.60 | Stop Loss: 3297.24

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Silver (XAG/USD) struggles to build on its overnight rebound from below $34.00, trading in a tight range during Wednesday’s Asian session. The metal hovers near $34.50, largely unchanged for the day but still close to Monday’s year-to-date high. Technically, this week’s breakout above the $33.80 resistance—the upper limit of a multi-week range—has encouraged bullish sentiment. Daily chart oscillators remain positive and well clear of overbought levels, suggesting upward momentum may continue in the near term. A decisive move above the $34.80–$34.90 zone, which marks the YTD high and October 2024’s 12-year peak, would reinforce the bullish outlook and could push silver toward the next target near $35.66, the March 2012 swing high, before potentially reclaiming $36.00 for the first time since February 2012. On the downside, dips below $34.00 could offer buying opportunities, with support expected near the previous resistance around $33.65. However, a sustained break below this level might drag XAG/USD down to the $33.00 round number, followed by strong support at $32.75–$32.70. A decisive break below this zone could shift the short-term bias toward the bears.

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