Gold and silver extended their gains in early U.S. trading, with both metals strengthening on the back of a surprisingly dovish Federal Reserve. Silver once again outperformed, surging to a fresh all-time high.
As of the latest trade:
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Gold: USD $4,268.67
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Silver: USD $63.55
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Platinum: USD $1,692
The combination of technical buying, softer Treasury yields, and a weaker U.S. dollar continues to support bullish momentum across the precious metals complex.
Fed Delivers a Dovish Surprise — Markets React
The Federal Reserve delivered its expected 0.25% interest rate cut, the third consecutive quarter-point move. However, the major surprise was the Fed’s return to balance-sheet expansion, announcing $40 billion per month in U.S. Treasury bill purchases beginning Friday.
This move signalled a clear shift toward looser policy, boosting gold and silver as investors sought safe-haven protection.
Market reaction was immediate:
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U.S. stock indices rallied
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The U.S. dollar index slid to a six-week low
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Treasury yields dropped
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Gold and silver prices surged in response
Traders had widely expected a more cautious tone from Chair Jerome Powell, but the Fed’s decision to rebuild banking-system liquidity overshadowed any hawkish commentary.
Global Market Overview
Global equity markets trended lower overnight, with U.S. futures pointing to a softer start.
China’s policymakers signalled more rate cuts and expanded fiscal support for 2026, aiming to counter deflationary pressure and sluggish domestic demand.
The International Energy Agency also reduced its global oil surplus forecast for next year, with crude oil trading near $57.75 per barrel. The U.S. 10-year Treasury yield hovered around 4.14%.
Technical Outlook: Gold
Gold’s bullish structure remains intact.
Key technical levels:
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Upside target: A close above the all-time high at $4,433.00
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Downside target: A break below $4,100.00
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Initial resistance: $4,277.70, then $4,300.00
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Support: $4,231.20, then $4,197.80
Wyckoff Rating: 7.0 — strong bullish bias.
Technical Outlook: Silver
Silver continues to lead the precious-metals sector, breaking out of a bullish flag pattern and pushing into new record territory.
Key levels:
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Upside target: A decisive close above $70.00
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Downside target: Below $57.00
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Immediate resistance: $63.25 and $64.00
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Support: $61.00, then $60.00
Momentum remains firmly with the bulls.
