Abstract:Gold & Silver Prices Get Bullish Cue from Dovish Fed, Weak USD
GOLD & SILVER PRICE FORECAST BULLISH AS PRECIOUS METALS REACT TO DOVISH FED, SOFTER REAL YIELDS, WEAK US DOLLAR
Precious metals like gold (XAU/USD) and silver (XAG/USD) look positioned to stretch higher
Gold and silver outlook is constructive on the back of patiently dovish guidance from the Fed
Broad-based US Dollar weakness and falling real yields stand to bolster gold and silver prices
Gold and silver prices turned sharply higher off session lows on Wednesday to close out on positive notes. XAU/USD gained ground with XAG/USD as precious metals popped on the back of a broadly weaker US Dollar. This came in response to the latest Fed update, which echoed how the central bank plans to leave 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 policy guidance stands to keep exerting downward pressure on real yields and the US Dollar. In turn, these typically bullish fundamental drivers for precious metals look to help guide gold and silver prices higher. Other anti-fiat assets, like Bitcoin and Ethereum, might piggyback on this theme as well. Check out this gold price forecast for key breakout levels to watch with FOMC in the rearview mirror.
==========
WikiFX, a global leading broker inquiry platform!
Use WikiFX to get free trading strategies, scam alerts, and experts experience!
╔════════════════╗
Android : cutt.ly/Bkn0jKJ
iOS : cutt.ly/ekn0yOC
╚════════════════╝
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
On the evening of April 28, Easy Trading Online proudly received the 'Most Trusted Forex Broker' award at the BrokersView 2024, hosted by Fastbull. This accolade is a testament to our steadfast dedication to providing reliable and superior trading services in the forex and CFD brokerage industry.
The BrokersView Expo Dubai 2024 is a premier event in the financial industry, bringing together top financial institutions, brokers, and technology providers from around the globe. As the Gold Sponsor of BrokersView Expo Dubai 2024, Easy Trading Online took the opportunity to showcase our latest products, service technologies, and core competitive advantages in the forex trading field.
On the 23rd of March, the Easy Trading Online family had the distinguished pleasure of being the Table Sponsor at the prestigious Wiki Gala Night. As we reflect on the event, it’s with a sense of pride and joy that we share the highlights and our takeaways from an evening that was as inspiring as it was splendid.
Easy Trading Online Broker Proud to be a trusted Forex trading platform. Fulfilling all the mentioned criteria, we provide: A trading platform that is easy to use and understand. Advanced market analysis tools To help you keep track of market changes and make effective trading decisions. Competitive trading fees It will help you save on your expenses. Professional customer support team Always available to advise when in doubt 24/7.