Gold (XAU/USD) & Silver Price Forecast: Fed Rate Path Takes Center Stage as Metals Recover - FXEmpire

AI desk brief

Gold and silver are being driven by the Fed rate path: markets see a 90%-93% chance of a 25bp hike, so the immediate focus is on the press conference and updated projections rather than the decision itself. Easing Treasury yields and softer oil prices have helped metals rebound, but any signal that further hikes are coming would remain a headwind for non-yielding gold and silver.

Technically, gold is trading around $4,335 after bouncing from $4,283, with $4,354 initial resistance and $4,403/$4,433 above; below $4,316, the next supports are $4,283, $4,256 and $4,217. Silver is firmer, holding above $64.40 at $64.88, with $65.28 the next test and $65.98/$66.74 in play on a clean breakout; failure back below $64.40 would expose $63.45 and then $62.57.