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Gold rose more than 1% today and trades around $4,200/oz, recovering from a two-month low hit earlier in the week. Silver gained 1.8% to $60.24 and erased the prior session's losses; platinum and palladium also advanced.
Thursday's $22bn 30-year Treasury auction was the catalyst. Cheaper bonds drew buyers, demand was solid, and yields fell across the curve, retreating from multi-decade highs. The 10-year yield had been near 5.31% after Wednesday's 5.35% peak. Gold, which pays no interest, benefits when yields fall; those who had pressed short positions at the peak suffered.
Oil added support. Brent fell below $103 after Donald Trump said the US would not strike Iran before the November 3 midterms, and the logic is straightforward: cheaper energy eases inflation expectations, easing pressure on rates and yields — and on gold. However, Hormuz remains the backdrop: since early October, nine attacks on vessels have been reported, and any new incident could push oil back above $105 in a single session and revive pressure on the metal.
The Federal Reserve sets the ceiling for this bounce. Policy is currently 3.75–4.00%; the market expects a pause in October and a 25bp hike to 4.00–4.25% in December with roughly an 80% probability. St. Louis Fed President Alberto Musalem said yesterday that rates should rise over the next six-to-nine months to return inflation to 2%, though he did not argue for an immediate move. Banks remain optimistic on gold: Goldman Sachs projects $4,900 by year-end, and Citi $4,800 in the next three months, though the metal remains far from the January record near $5,600.
Technical picture: buyers need to take the near resistance at $4,186 to target $4,249, above which a breakout becomes difficult. The far target is $4,304. On the downside, bears will try to seize $4,124. If they succeed, a range break would seriously damage bull positions and push gold toward $4,062, with a prospect of reaching $4,047.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
