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Gold remains near its all-time high around $2,989 after briefly crossing $3,000 last week, supported by geopolitical risks and Federal Reserve rate cut expectations despite China’s new economic stimulus measures shifting some investor sentiment toward riskier assets.
Silver is trading at $33.69, slightly down as profit-taking caps further gains despite support from a weaker U.S. dollar. Multiple factors are influencing precious metals prices: the U.S. Dollar Index hovering near multi-month lows (103.70), declining consumer sentiment, Houthi rebel attacks in the Red Sea raising geopolitical concerns, and ongoing trade tensions following Trump’s decision to maintain tariffs on Australian metals. Traders are now focused on upcoming U.S. economic releases and Wednesday’s FOMC decision for gold’s next major move.
