Commodity Market Outlook (Fresh & Daily)

[ZforexCM]

Commodities Hold Firm with Fed Turmoil 08.26.2025

Commodities traded with heightened volatility on Tuesday as Trump’s move against Fed Governor Lisa Cook rattled markets, fueling demand for gold and silver on fears over central bank independence and renewed rate-cut bets. Oil prices steadied after Monday’s surge, with traders weighing Ukrainian strikes on Russian energy assets and Trump’s threats of steep tariffs on Chinese goods. Attention now turns to U.S. economic data later this week, which could set the tone for the next move in dollar-driven commodities.

• Gold: Touched a two-week high near $3,385 as Fed concerns lifted demand; resistance at $3,385, support at $3,346.
• Silver: Stayed strong around $38.80, supported by easing expectations and strong industrial demand; resistance at $39.01, support at $38.24.
• Oil: Brent cooled to $68/bbl after supply-driven gains, with geopolitical risks and tariff talks keeping the market on edge; resistance at $69.10, support at $66.90.

[ZforexCM]

Gold and Silver Ease, Oil Steady (08.27.2025)

Commodities traded mixed on Wednesday as tensions between the White House and Fed drove sentiment. Gold and silver eased on profit-taking but stayed supported by demand, while oil steadied after a sharp drop, with traders eyeing U.S. tariffs on India and renewed strikes in the Russia-Ukraine war.

• Gold (XAU/USD): Fell 0.56% to $3,374. Resistance at $3,393, support at $3,351. Ongoing Fed dispute kept downside limited.
• Silver (XAG/USD): Down 0.43% to $38.44. Resistance at $39.00, support at $38.25. Industrial demand supported prices.
• Brent Crude Oil: Up 0.08% to $67.27. Resistance at $68.40, support at $65.50. Steady as markets assess U.S. tariffs on India and Russian infrastructure strikes.

[ZforexCM]

War Tensions Strain Commodities (08.28.2025)

Political tensions around the Fed, new U.S. tariffs on Indian goods, and continued strikes on energy sites in the Russia-Ukraine conflict shaped commodity moves this week. A stronger dollar and expectations of a September rate cut added to the mix, leaving gold, silver, and oil trading in a tight but volatile range ahead of U.S. inflation data.

• Gold (XAU/USD): Gold slipped to $3,390, easing from a three-week peak near $3,400 as profit-taking and a firmer dollar weighed.
• Silver (XAG/USD): Silver held close to $38.7 per ounce, supported by Fed rate-cut bets and steady industrial demand, even as the dollar strengthened.
• Brent Crude Oil: Brent steadied around $67.0 per barrel, pressured by softer fuel demand but supported by U.S. tariffs on India and war-related supply risks.

[ZforexCM]

Gold Rallies on Safe-Haven Demand; Silver Hits 2011 High

Precious metals surged at the start of the week as risk-off sentiment lifted gold and silver, with silver breaking above $40 for the first time since 2011. A U.S. court ruling against Trump’s tariffs added to volatility, while weak equities and dovish Fed signals supported demand. Brent crude, however, extended losses on supply concerns and fading seasonal demand.

Key Levels and Moves

• Gold (XAU/USD): Rose toward $3,480, its highest in five months. Resistance at $3,480; support at $3,400.
• Silver (XAG/USD): Jumped above $40, the highest since 2011, on Fed cut bets and solar demand. Resistance at $40.80; support at $39.00.
• Brent Crude: Fell to $67.20 as supply worries and weaker demand weighed. Resistance at $68.24; support at $66.85.

[ZforexCM]

Silver Tops $40 on Solar Demand (09.02.2025)

Commodity markets opened the week on a strong note with renewed bets on Federal Reserve rate cuts, ongoing political tensions, and supply risks from the Russia-Ukraine conflict. Dollar weakness kept demand alive, while energy markets balanced concerns about disrupted flows against expectations of oversupply.

• Gold (XAU/USD): Gold extended its rally to a record $3,508 before easing to $3,495, supported by firm expectations of a September Fed cut. Tariff disputes and Fed independence concerns added to safe-haven inflows.
• Silver (XAG/USD): Silver surged 2% to trade above $40.60, marking its highest level since 2011. Industrial demand was supported by China’s 70% jump in solar panel exports, alongside Fed easing bets.
• Brent Crude Oil: Brent climbed above $68.40 after Ukrainian strikes on Russian energy sites and talk of stricter sanctions. Traders also watch India’s response to U.S. pressure over Russian imports.

Gold resistance stands at $3,520, with support at $3,470.

R1: 3520	S1: 3470
R2: 3580	S2: 3400
R3: 3640	S3: 3320

Resistance is at $41, with support at $39.80

R1: 41.00	S1: 39.80
R2: 41.75	S2: 38.00
R3: 42.50	S3: 37.25

[ZforexCM]

Oil Balances Disruptions and Demand Fears

Precious metals held near multi-year highs as expectations of a September Fed rate cut kept the dollar in check, while surging global bond yields and renewed fiscal worries in Europe added to safe-haven appetite. Sanctions on Iranian oil trade and fresh disruptions in Russia’s refining sector supported prices, though demand concerns continue to linger before the release of the U.S. labor market data.

• Gold (XAU/USD): Extended its rally to a fresh record at $3,546 before easing, supported by Fed cut bets and geopolitical frictions. Gains remain limited by dollar strength and caution ahead of U.S. Nonfarm Payrolls.
• Silver (XAG/USD): Consolidated near $40.7 after a sharp 2% jump in the prior session, its highest level since 2011. A dovish Fed outlook continues to support demand.
• Brent Crude Oil: Held above $68.9 per barrel with U.S. sanctions on Iranian-linked shipments and Ukrainian strikes on Russian refineries that disrupted about 17% of capacity.

Gold Hits Record High Ahead of US Jobs Data

Gold (XAU/USD) extended its two-week rally, reaching a fresh record near $3,546 during Wednesday’s Asian session. Expectations of a Federal Reserve rate cut this month and ongoing trade uncertainty supported demand for the safe-haven asset. Gains were limited as a stronger U.S. dollar, driven by weakness in the British pound and Japanese yen, restrained further momentum. Overbought technical conditions and caution ahead of Friday’s U.S. Nonfarm Payrolls report also kept investors cautious, with the data expected to shape the Fed’s policy outlook.

R1: 3550	S1: 3497
R2: 3590	S2: 3455
R3: 3640	S3: 3400

Silver Consolidates After Reaching 14-Year Peak

Silver (XAG/USD) eased slightly from the $41.00 mark, a 14-year high touched in Wednesday’s Asian session, and now trades near $40.70, down 0.5% on the day. Overbought RSI levels prompted some profit-taking, though the downside looks limited. The break above last year’s highs and the key $40.00 threshold has strengthened bullish momentum, with any pullbacks likely to be viewed as new buying opportunities.

R1: 41.25	S1: 39.50
R2: 42.30	S2: 39.00
R3: 43.65	S3: 38.20

[ZforexCM]

Metals Pause, Oil Slips on OPEC+ Talk

Precious metals eased as traders awaited key U.S. labor data and Fed policy signals. Gold consolidated just below record highs after its longest rally since March, while silver slipped from 14-year peaks but held strong on rate cut bets. Brent crude extended declines on reports that OPEC+ may raise output to regain market share.

Key Levels and Moves

• Gold (XAU/USD): Dipped to $3,540, consolidating near highs. Resistance at $3,555; support at $3,510.
• Silver (XAG/USD): Pulled back 1% to $40.50 after fresh 14-year highs. Resistance at $41.30; support at $40.20.
• Brent Crude: Fell toward $66.90 on OPEC+ output hike speculation. Resistance at $69.50; support at $66.35.

BRENT

Brent crude futures slipped toward $66.90 per barrel on Thursday, extending a 2.2% decline from the prior session. Prices weakened on concerns that OPEC+ may raise output at its upcoming policy meeting. The group is reportedly considering reversing 1.65 million barrels per day of production cuts, equivalent to about 1.6% of global demand, in an effort to recapture market share.

GOLD

Gold dipped to around $3,540/oz on Thursday, pausing its longest rally since March but staying near record highs. Safehaven demand and expectations of Fed rate cuts kept the metal supported, while uncertainty over tariffs, Fed independence, and fiscal pressures added extra backing.

R1: 3555	S1: 3510
R2: 3580	S2: 3490
R3: 3640	S3: 3470

SILVER

Silver retreated 1% to $40.50 per ounce ahead of key US labor data. Even so, the outlook stayed firm with support from Fed rate cut expectations, safe-haven demand, and industrial buying from China’s solar sector. Precious metals have surged in recent weeks, with markets now pricing in nearly a 98% probability of a 25 bps cut this month.

R1: 41.30	S1: 40.20
R2: 42.50	S2: 39.75
R3: 43.65	S3: 39.00

[ZforexCM]

Dollar Weakness Fuels Metals Rally
With the CME FedWatch tool now showing nearly a 100% probability of a 25 bps move, demand and monetary easing prospects continued to drive metals higher, while energy markets remained under pressure from oversupply concerns.

XAUUSD

Gold Holds Near Record Highs Ahead of NFP

Gold edged higher in Friday’s Asian session, extending its rebound from $3,500 and staying near record highs. The metal is supported by expectations of Fed rate cuts starting in September and trade-related safe-haven demand, though gains are capped by firm equities and overbought conditions. Traders await the U.S. NFP report for fresh direction on policy and gold’s outlook.

R1: 3585	S1: 3500
R2: 3635	S2: 3460
R3: 3670	S3: 3405

XAGUSD

Silver Rises Ahead of U.S. NFP Report

Silver edged up to $40.85 in Friday’s Asian session, supported by a weaker dollar and stronger Fed cut bets. Softer U.S. data, including higher jobless claims and weak ADP payrolls, signaled a cooling labor market and increasing demand for non-yielding assets. Investors now await the U.S. NFP report for further policy clues.

R1: 41.30	S1: 40.20
R2: 42.50	S2: 39.75
R3: 43.65	S3: 39.00

BRENT
Brent crude slipped toward $66.80 per barrel, logging a third straight session of declines. Rising output from both OPEC+ and U.S. shale drillers has renewed fears of a global surplus.

Resistance 1: $69.50
Support 1: $65.35

[ZforexCM]

Global Markets Rise as Yields Drop to 4%

Global markets climbed as weak U.S. jobs data (22,000 new payrolls, unemployment at 4.3%) increased expectations for Fed rate cuts. The 10-year Treasury yield dropped to 4%, its lowest in five months, with traders pricing in at least a 25 bps cut and watching this week’s PPI and CPI.

Gold surged above $3,650 to record highs, supported by lower yields, a softer dollar, and safe-haven demand after U.S. sanction threats on Russia. Oil extended gains, with Brent above $66 and WTI near $62, after OPEC+ confirmed only a modest October output increase of 137,000 bpd.

Gold Extends Record Rally Above $3,650

Gold extended its record rally for a third day, climbing above $3,650 in Tuesday’s Asian session. The surge is driven by Fed cut bets after weak U.S. jobs data, with markets pricing in up to three reductions this year. The weaker dollar, along with political instability in Japan and France, increased safe-haven demand. Momentum remains strong, though overbought conditions could cap gains ahead of U.S. inflation data (PPI Wednesday, CPI Thursday).

Gold is currently facing resistance around $3,670, with strong support near $3,625.

R1: 3670	S1: 3625
R2: 3700	S2: 3570
R3: 3730	S3: 3500

XAG/USD Extends Rally for Third Day

Silver (XAG/USD) extended gains for a third straight session, trading near $41.40 in Tuesday’s Asian hours. The rally is fueled by expectations of a jumbo Fed cut after weak labor data, with August’s NFP showing just 22K jobs versus the 75K forecast. The cooling job market strengthens the case for easing, lowering the cost of holding non-yielding assets like silver. Geopolitical tensions and trade war concerns also add safe-haven demand, with IBJA’s Haresh Acharya noting that Fed cut bets and risk aversion are driving the surge.

The first resistance at $42.00 and support at $40.40.

R1: 42.00	S1: 40.40
R2: 42.40	S2: 39.80
R3: 43.40	S3: 38.20

BRENT CRUDE

Brent crude futures rose above $66 per barrel on Tuesday, building on Monday’s gains, supported by OPEC+’s slow output increase and renewed concerns over potential sanctions on Russian oil. On Sunday, OPEC+ agreed to boost production by just 137,000 barrels per day starting in October, significantly less than previous monthly hikes, which ranged from 411,000 to 555,000 bpd. The modest increase reflects the group’s cautious approach amid expectations of a market surplus.

U.S. President Donald Trump signaled readiness to impose further sanctions on Russia following its most intense airstrikes on Ukraine since the war began, raising fears of global energy supply disruptions. However, gains were capped after Saudi Arabia cut prices on all crude grades for October deliveries to Asia, suggesting softer regional demand.

Brent faces resistance at $67.10, with key support at $65.00

[ZforexCM]

Gold Holds $3,620 Ahead of PPI Data

Gold held near $3,620 in Wednesday’s Asian session, pausing after a pullback from record highs. Expectations of Fed rate cuts this year continue to support demand, alongside trade uncertainty and political tensions in France and Japan. A stronger U.S. dollar and upbeat equities may cap gains, with focus now on the PPI report.

Gold is currently facing resistance around $3,670, with strong support near $3,615.

R1: 3670	S1: 3615
R2: 3700	S2: 3560
R3: 3730	S3: 3500

Safe-Haven Flows Lift Silver as Dollar Softens

Silver rose toward $41 in Wednesday’s Asian session, supported by a weaker US Dollar and geopolitical risks after Israel reportedly struck Hamas leaders in Doha. Safe-haven demand strengthened further as annual revisions to US Nonfarm Payrolls showed a 911,000-job drop, pointing to a weaker labor market and increasing Fed cut expectations. Markets now await US PPI data for direction.

The first resistance at $41.50 and support at $40.40.

R1: 41.50	S1: 40.40
R2: 42.20	S2: 39.60
R3: 43.40	S3: 38.20

BRENT CRUDE FUTURES
Brent crude oil futures climbed toward $67 per barrel, marking a third session of gains, supported by concerns over potential supply disruptions with rising tensions in the Middle East.

The Israeli military reported a strike on Hamas leadership in Doha, Qatar, intensifying its ongoing operations in the region, just hours after warning of possible attacks on Gaza City. This conflict added to upward pressure from OPEC+’s modest production increase for October, which was smaller than the adjustments seen in previous months. Reports also showed Trump urged the EU to impose 100% tariffs on Chinese and Indian goods to pressure Putin, with the U.S. signaling it could take similar action.

On the supply side, U.S. crude inventories rose by 1.3 million barrels last week, following a 0.6 million-barrel
increase the previous week.
Brent faces resistance at $67.10, with key support at $65.00.

[ZforexCM]

Gold Rises as Jobless Claims Hit Four-Year High

Gold nears $3,640 on Friday, marking a fourth weekly gain, driven by Fed rate cut expectations and safe-haven demand. U.S. inflation matched forecasts after a PPI drop, while jobless claims hit a four-year high, highlighting labor weakness. Markets price in a 25 bps cut, with speculation of 50. Geopolitical tensions, including U.S. tariff pressure on India and China, Middle East conflicts, and Russian drone strikes, added support.

Gold is currently facing resistance around $3,675, with strong support near $3,615.

R1: 3675	S1: 3615
R2: 3700	S2: 3560
R3: 3730	S3: 3500

Silver Near $42, Highest in 14 Years

Silver climbed 1% toward $42 per ounce on Friday, its highest in 14 years, supported by Fed rate cut bets. August U.S. CPI rose 0.4%, while producer prices fell and jobless claims hit a three-year high, signaling labor weakness. Safe-haven flows and strong industrial demand from solar, EVs, and electronics added support.

The first resistance at $42.30 and support at $41.00.

R1: 42.30	S1: 41.00
R2: 43.20	S2: 39.60
R3: 44.40	S3: 38.20

BRENT OIL

Brent crude fell below $66 per barrel, pressured by weaker US demand and rising inventories. The IEA expects global supply to expand faster than previously forecast as OPEC+ ramps up production, while OPEC maintained steady supply-demand projections.

Despite the pullback, prices remain on track for a modest weekly gain, supported by geopolitical tensions in the Middle East and Ukraine.

Brent faces resistance at $67.60, with key support at $64.50.

[ZforexCM]

XAU/USD Steady as Traders Await 25 bps Cut

Gold hovered near $3,640 on Monday, close to record highs, as markets awaited the Federal Reserve’s policy decision. Traders expect a 25-basis-point cut, with easing possibly extending into next year amid labor market weakness. Attention turns to U.S. retail sales and industrial output for clues on momentum.

Political risks linger as the Trump administration renewed efforts to remove Fed Governor Lisa Cook, raising concerns over central bank independence. Investors also watched U.S.-China trade talks in Madrid for fresh signals.

Gold is currently facing resistance around $3,670, with strong support near $3,615.

R1: 3670	S1: 3615
R2: 3700	S2: 3560
R3: 3730	S3: 3500

XAG/USD Steady Near 14-Year Highs

Silver held above $42 per ounce on Monday, near 14-year highs, as investors awaited a likely Fed rate cut this week. Markets price a 96% chance of a 25 bps cut after weak U.S. labor data and subdued inflation. Easing moves are also expected in Canada and China, while Japan and the U.K. are likely to hold steady. U.S.-China talks in Madrid and strong industrial demand, supported by supply constraints, continue to back silver.

The first resistance at $42.30 and support at $40.50.

R1: 42.30	S1: 40.50
R2: 43.20	S2: 39.50
R3: 44.15	S3: 38.20

Brent Oil Rises on Geopolitical Risks

Brent crude futures rose to $67.30 per barrel, continuing Friday’s gains awithmid concerns over Russian oil flows following intensified Ukrainian attacks on energy infrastructure and stalled peace talks, which raised the prospect of further Western sanctions.

Over the weekend, Ukraine targeted Russia’s Kirishi refinery, one of the country’s largest, with a 355,000 bpd capacity. Meanwhile, President Trump urged Europe to halt Russian oil imports and warned of potential sanctions if NATO allies follow suit. Investors are also watching US-China trade talks in Madrid, as Washington presses allies to impose tariffs on Chinese imports linked to Russian crude. Gains were tempered by worries about slowing U.S. demand and a potential global supply surplus due to higher OPEC+ production.

Brent faces resistance at $68.00, with key support at $66.00

[ZforexCM]

Markets Respond to Fed’s September Cut (09.18.2025)

The Federal Reserve cut rates by 25 bps to 4.00%–4.25% in September, its first move since December. Governor Stephen Miran dissented, favoring a 50 bps cut. The Fed signaled another 50 bps of easing by year-end and one cut in 2026, with GDP growth upgraded and 2026 inflation forecasts higher.

Gold Steadies Near $3,650 After Fed Cut

Gold hovered near $3,650 on Thursday, extending losses as the dollar strengthened after the Fed’s 25 bps cut. Chair Powell called the move risk management amid labor weakness, stressing a cautious approach. Gold is still up 39% this year, supported by easing bets, geopolitical tensions, and central bank demand, while Indian supplies stay tight.

Gold is currently facing resistance around $3,700, with strong support near $3,634.

R1: 3700	S1: 3634
R2: 3730	S2: 3600
R3: 3760	S3: 3550

Silver Slips as Fed Signals Limited 2026 Cuts

Silver slipped below $41.5 on Thursday, extending a three-day decline after the Fed’s 25 bps cut. The central bank signaled two more cuts this year but only one in 2026, tempering easing expectations. Powell called the move “risk management” amid labor weakness. The BoC also cut rates, while the BoE and BoJ are set to hold. Industrial demand from solar, EVs, and electronics, plus supply constraints, continues to support silver.

The first resistance is at $42.30 and support is at $40.80.

R1: 42.30	S1: 40.80
R2: 43.00	S2: 39.40
R3: 44.10	S3: 37.50

BRENT Crude Oil

Brent crude futures dipped below $67 per barrel, extending losses as traders weighed US inventory data. EIA figures showed crude stocks fell 9.3 million barrels due to rising exports, while distillate inventories reached their highest since January, adding bearish pressure.

Global oil demand averaged 104.4 million bpd, slightly below JP Morgan’s forecast, with mixed regional trends.

Brent faces resistance at $68.70, with key support at $66.20

[ZforexCM]

Gold Consolidates After Fed’s 25 bps Cut

Gold hovered near $3,650 per ounce on Friday, recovering after a two-day drop and pausing a four-week rally. The Fed’s first cut since December was seen as a cautious response to labor market weakness, with officials warning inflation could slow easing. Gold is up 39% this year, supported by easing expectations, geopolitical risks, central bank demand, and a surge in Swiss exports to China.

Gold is currently facing resistance around $3,700, with strong support near $3,625.

R1: 3700	S1: 3625
R2: 3730	S2: 3590
R3: 3760	S3: 3550

Silver Holds Gains Amid Fed Caution and Dollar Strength

Silver climbed to around $42.3 per ounce on Friday, rising 18.7% from its July 31 trough. Despite recent pullbacks, silver remains near its peak. However, a less dovish Fed tone and a resilient US dollar suggest tighter price action ahead. Daily RSI indicators also hint at potential divergence, signaling that an intermediate correction could be on the horizon even as prices hold near their highs.

The first resistance is at $42.70, and support holds at $40.80.

R1: 42.70	S1: 40.80
R2: 43.00	S2: 39.50
R3: 44.10	S3: 38.70

Brent Crude Oil

Brent crude futures traded near $67.5 per barrel as President Trump’s call for lower oil prices eased supply concerns. While Ukrainian strikes on Russian energy infrastructure earlier in the week caused worries, Trump favored cheaper oil over sanctions.

US data showed a sharp crude draw from strong exports, though distillate inventories hit a January high, raising demand concerns.

[ZforexCM]

Markets Keep Steady After Fed Cut (09.22.2025)

Gold Struggles Despite Fed Cut Outlook

Gold (XAU/USD) remains range-bound below $3,700 on Monday, struggling to build on Friday’s gains. A stronger US Dollar, rebounding from 2022 lows after the Fed’s cautious rate cut, continues to pressure gold. Upbeat equity markets also weigh on safe-haven demand. Still, gold trades near record highs, supported by expectations of two more Fed cuts this year. Geopolitical tensions and trade uncertainties add to the bullish backdrop, keeping the overall trend upward despite short-term headwinds.

Gold is currently facing resistance around $3,707, with strong support near $3,650.

R1: 3707	S1: 3650
R2: 3730	S2: 3590
R3: 3760	S3: 3550

Silver Tests Channel Top Amid Rally

Silver (XAG/USD) extended Friday’s breakout, hitting $43.25, its strongest level since September 2011, during Monday’s Asian session. Up 0.35% on the day, the metal is testing the top of an ascending channel that began in April, reinforcing the uptrend and potential for further gains. Still, slightly overbought RSI signals a short-term pullback or consolidation before the next bullish leg.

The first resistance is at $43.75, and support holds at $42.80.

R1: 43.75	S1: 42.80
R2: 44.10	S2: 42.00
R3: 46.00	S3: 40.25

Brent Crude Oil

Brent crude oil futures rose to $66.9 per barrel on Monday after a three-day decline, with prospects of additional EU sanctions against Russia. The EU proposed on Friday its 19th package of sanctions against Russia, the latest effort to pressure Moscow to end the war in Ukraine.

Brent faces resistance at $68.70, with key support at $66.20.

[ZforexCM]

Markets Pause Before Data and Policy Updates (09.23.2025)

Markets were steady on Tuesday as investors awaited key economic indicators and central bank signals. The euro hovered near $1.18, supported by expectations that Eurozone PMIs will show modest improvements in both manufacturing and services.

Gold Tops $3,750 on Fed Cut Bets

Gold climbed above $3,750 per ounce on Tuesday, supported by expectations of further interest rate cuts from the Federal Reserve this year. After last week’s initial reduction, the Fed signaled that additional easing may follow as the labor market weakens, with markets now pricing in nearly two more 25-basis-point cuts before year-end.

Gold is currently facing resistance around $3,785, with strong support near $3,735.

R1: 3785	S1: 3735
R2: 3800	S2: 3710
R3: 3830	S3: 3660

Silver Eases After Fresh 2011 Peaks

Silver retreated after reaching fresh 14-year highs, trading near $43.80 per ounce during Tuesday’s Asian session. The pullback reflected a technical correction, compounded by cautious remarks from several US Federal Reserve officials on Monday. Still, strong fundamentals remain in place, with tight supply continuing to underpin upward momentum for the metal.

The first resistance is at $44.25 and the support is at $43.40.

R1: 44.25	S1: 43.40
R2: 44.60	S2: 42.90
R3: 45.30	S3: 40.00

Brent Crude Oil

Brent crude futures slipped to $66.10 per barrel on Tuesday, marking a fifth consecutive decline as oversupply fears outweighed geopolitical tensions in Europe and the Middle East. Pressure intensified after reports suggested Iraq may soon restart crude exports through Kurdish Regional Government, halted for more than two years due to a payment dispute, which could add about 230,000 bpd back to global supply.

Brent faces resistance at $68.70, with key support at $65.20

[ZforexCM]

Markets Keep Steady While Metals Pull Back (09.24.2025)

Global markets were mixed on Wednesday as central bank signals and data shaped sentiment.

Gold Eases Near Record on Fed Signals

Gold eased to around $3,750 per ounce on Wednesday, staying near its recent record as traders assessed fresh comments from Federal Reserve officials. Chair Jerome Powell warned of the challenge in curbing stubborn inflation without deepening labor market weakness, while Governor Michelle Bowman signaled the Fed could accelerate rate cuts if employment conditions deteriorate further.

Gold is currently facing resistance around $3,791, with strong support near $3,736.

R1: 3791	S1: 3736
R2: 3830	S2: 3696
R3: 3850	S3: 3625

Silver Awaits Fed Signals Just Below $44

On Wednesday, silver traded just below $44 an ounce, holding near a 14-year high as markets awaited upcoming Federal Reserve signals. Support came from constrained supply and solid demand from the solar, electric vehicle, and electronics sectors, while investors looked to Powell’s remarks and the PCE inflation data later this week for clearer guidance.

The first resistance at $44.20 and support at $43.60.

R1: 44.20	S1: 43.60
R2: 46.05	S2: 42.00
R3: 49.80	S3: 40.50

Brent Crude Oil

Brent crude climbed toward $68 per barrel, continuing a 1.6% increase from Tuesday. US petroleum industry data revealed a 3.8-millionbarrel decline in crude inventories, the biggest in seven weeks, heightening market worries over supply constraints.

Brent faces resistance at $68.70, with key support at $66.20.

[ZforexCM]

Dollar Strengthens, Commodities Hold Firm (09.25.2025)

Commodities were steady overall. Gold held near recent highs on Fed cut expectations, silver traded around $44, and oil stayed flat as supply-demand factors and Trump–Xi talks in South Korea kept uncertainty elevated.

Fed Division Weighs on Gold Prices

Gold slipped to nearly $3,730 per ounce on Thursday, extending its pullback from record highs as markets assessed the Fed’s outlook. Chair Jerome Powell highlighted the challenge of balancing inflation with a weakening labor market, while officials were split between calling for two more cuts, preferring caution, or pushing faster easing. Meanwhile, US new-home sales surged in August to their highest since early 2022, easing slowdown fears but complicating expectations for further policy easing.

Gold faces resistance near $3770, with support around $3,690.

R1: 3770	S1: 3690
R2: 3800	S2: 3600
R3: 3840	S3: 3550

Fed Cut Bets Keep Silver Elevated

Silver traded around $43.90 per ounce in Thursday’s Asian session, recovering from earlier losses and staying close to Tuesday’s 14-year peak of $44.47. Markets widely expect a 25-basis-point Fed cut at the October meeting, while strong industrial demand and tight supply from solar, EV, and electronics sectors continue to support prices.

The first resistance is at $44.40, and support is at $43.

R1: 44.40	S1: 43.00
R2: 45.20	S2: 42.50
R3: 46.00	S3: 41.80

Brent Crude Oil

Brent crude futures slipped to roughly $69 per barrel as investors booked profits following a rally to a sevenweek peak. The earlier surge had been fueled by government data showing a substantialdrop in US crude inventories. Ongoing supply concerns, including Ukraine’s intensified drone strikes on Russian energy infrastructure, continue to pressure the market, raising fuel shortage risks and potential export constraints.

Brent faces resistance at $68.90, with key support at $66.70

[ZforexCM]

Dollar Gains Pressure on Euro, Metals, and Pound (09.26.2025)

Markets moved cautiously on Friday as the dollar strengthened on the back of robust U.S. data

Stronger U.S. Data Weighs on Gold Prices

Gold prices retreated to around $3,725 on Friday as stronger U.S. economic data boosted the dollar and tempered expectations for a Fed rate cut ahead of next week’s key inflation report. Weekly jobless claims declined, while Q2 GDP was revised higher, reflecting robust consumer spending and business investment. Following these developments, the probability of a Fed rate cut in October eased from 90% to 85%.

From a technical perspective, holding above $3,750 keeps the outlook constructive. Resistance is seen at $3,790 (all-time high), followed by $3,810 and $3,850. On the downside, the $3,720–$3,725 zone serves as the first support area.

R1: 3790	S1: 3720
R2: 3810	S2: 3600
R3: 3850	S3: 3550

Silver Pulls Back From 14-Year Highs

Silver continues to trade around $45 per ounce after slightly pulling back from its 14-year high on Friday. The main reasons are the strengthening of the dollar following strong U.S. economic data and reduced expectations for deeper interest rate cuts by the Federal Reserve. Data released on Thursday showed weekly jobless claims falling to 218,000, indicating a resilient labor market. In addition, Q2 GDP growth was revised up to 3.8% annualized, marking nearly the fastest growth rate in the past two years. While markets still expect a quarter-point Fed cut in October, the total interest rate cut expectation for the rest of the year has decreased from 43 basis points to 39 basis points.

From a technical perspective, if silver holds above $45.25, it could target $46.05, with a further potential upside towards $48. On the downside, the main support level to watch is $43.65.

R1: 44.05	S1: 43.65
R2: 48.00	S2: 42.50
R3: 50.00	S3: 40.00

Brent Crude Oil

Brent crude oil is nearing USD 70, supported by renewed pressure from President Trump on buyers of Russian energy, including Turkey and Hungary. His remarks offset the impact of OPEC+ production increases and the restart of northern Iraqi exports after a two-year halt, as producers weigh further steps to reduce crude output.

Brent faces resistance at $69.40, with key support at $67.50.