GOLD & SILVER PRICE FORECAST BULLISH AS PRECIOUS METALS REACT TO DOVISH FED, SOFTER REAL YIELDS, WEAK US DOLLAR
- Valuable 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 Dollar weak point and falling actual yields stand to bolster gold and silver costs
- Take a look at the DailyFX Education Center or learn up on these prime gold trading strategies
Gold and silver costs turned sharply larger off session lows on Wednesday to shut out on optimistic notes. XAU/USD gained floor with XAG/USD as treasured metals popped on the again of a broadly weaker US Greenback. This got here in response to the most recent Fed replace, which echoed how the central financial institution plans to depart its policy path unchanged for the foreseeable future.
GOLD PRICE CHART WITH SILVER & TEN-YEAR TREASURY YIELD OVERLAID: 5-MINUTE TIME FRAME (28 APRIL 2021 INTRADAY)
Dovish Fed coverage steerage stands to maintain exerting downward strain on actual yields and the US Greenback. In flip, these sometimes bullish basic drivers for treasured metals look to assist information gold and silver costs larger. Different anti-fiat property, like Bitcoin and Ethereum, may piggyback on this theme as nicely. Take a look at this gold value forecast for key breakout levels to look at with FOMC within the rearview mirror.
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