Silver and gold prices remain hesitant amid ongoing market confusion but show signs of building support for a potential longer-term uptrend.
Metals have traded in uncertainty since the start of recent conflicts, influenced by inflation and shifting price dynamics. Sellers appear to be losing momentum after failing to push prices lower, though clear breakouts are still needed to confirm any rally.
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Bitcoin climbed back over $77,000 on Wednesday as traders weighed technical support levels against ongoing macroeconomic pressures. The move followed a five-day losing streak and lifted some altcoins alongside major crypto indexes. Analysts highlighted key resistance near $82,500 and stressed the need for renewed ETF inflows to sustain gains.
Silver and gold prices rose on Wednesday following the Federal Reserve's meeting and other central bank announcements. The uptick came as oil prices and the US dollar weakened. Metals gained traction amid broader strength in risk assets.
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In the ongoing West Asia conflict—now including heightened Iran-US tensions—gold prices were nearly flat on Friday but headed for a 2% weekly loss. Surging oil prices continue to drive inflation fears and expectations of prolonged high interest rates, tempering safe-haven demand.
Asian markets rose on Monday, supported by demand for artificial intelligence stocks despite tensions in the Middle East affecting oil prices.
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The Indian government has increased customs duties on gold, silver and platinum to curb imports and preserve foreign exchange reserves amid rising oil prices from the West Asia conflict.