Gold inched up to around $3,990 per ounce on Tuesday but remained near a two-week low, as optimism over US–China trade progress weighed on safe-haven demand. Over the weekend, officials from both countries said they had reached a framework agreement on tariffs and other key issues during talks in Malaysia, paving the way for Presidents Trump and Xi to finalize the deal later this week in South Korea.
From a technical view, key support lies near $3940, while resistance is seen around $4,050.
Silver hovered near $46.80 in Tuesday’s Asian session, extending its third day of losses after falling 3.78% as investors moved to risk assets amid optimism over U.S.–China trade talks. Officials from both countries announced in Malaysia that a framework deal on tariffs had been reached, paving the way for Trump and Xi to finalize it in South Korea this week.
From a technical view, resistance stands near $47.90, while support is located around $45.60.
Gold (XAU/USD) slipped after reaching around $4,046 in Asian trading, pausing its rebound from early October lows. The metal came under pressure as the US dollar held near a three-month high following the Fed’s hawkish stance, while optimism over improving US–China relations reduced safe-haven demand. However, persistent uncertainty from the prolonged US government shutdown may limit further dollar gains and offer some support to gold.
From a technical perspective, support is around 3990, and resistance is at 4030.
Markets Mixed as ECB Steady Tone Supports Euro (11.05.2025)
Global markets traded cautiously on Wednesday, with EUR/USD stabilizing near 1.1490 as the ECB maintained a steady policy outlook supported by firmer Eurozone data.
Gold (XAU/USD) advanced above $3,950 in early Asian trading on Wednesday, supported by safe-haven demand as the U.S. government shutdown adds to geopolitical uncertainty. However, gains may be limited by profit-taking and a stronger U.S. Dollar. Markets now look to the U.S. ADP employment report and ISM Services PMI for further signals on the Federal Reserve’s policy outlook.
From a technical perspective, support is around 3900, and resistance is at 3990.
Silver recovered part of its previous session losses in Wednesday’s Asian trading, supported by renewed safe-haven demand. Investors are now awaiting key U.S. data releases later today for further direction. Although the Fed delivered the expected 25 bps rate cut, Chair Powell signaled that another reduction in December is not guaranteed, limiting broader upside momentum.
From a technical view, resistance stands near $48.50, while support is located around $46.50.
Gold prices climbed toward $4,000 per ounce on Friday after weak US labor data increased expectations of a near-term Fed rate cut. Challenger job cuts tripled in October, the largest jump in over two decades, signaling weaker consumer demand. The data offset optimism from earlier ADP payroll gains and heightened labor market uncertainty amid the government shutdown. Traders now see a 69% chance of a 25 bps cut in December, up from 60% a day earlier.
From a technical perspective, support is around 3930, and resistance is at 4040.
Silver prices were little changed around $48.30 during Friday’s Asian session, losing earlier momentum as investors weighed mixed signals on the US economy. Stronger US data prompted expectations that the Federal Reserve will remain cautious on rate cuts, while delays in key indicators due to the government shutdown fueled uncertainty. Market bets on a December 25 basis-point cut dropped to 62%, sharply down from 90% last week, leading to a more cautious near-term outlook for silver.
From a technical view, resistance stands near $48.70, while support is located around $47.00.
