GOLD (XAUUSD) & SILVER PRICE FORECAST: RANGE-BOUND AHEAD OF U.S. NFP REPORT
GOLD (XAUUSD) & SILVER PRICE FORECAST: RANGE-BOUND AHEAD OF U.S. NFP REPORT
Gold prices have surged to record highs, surpassing $3,100 per ounce, driven by safe-haven demand amid global trade uncertainties and expectations of U.S. interest rate cuts.
Silver has also seen significant movement, trading around $33.15 per ounce.
Both metals are anticipated to remain range-bound as markets await the release of the U.S. Non-Farm Payrolls (NFP) report, which is expected to influence future monetary policy decisions.
President Donald Trump's announcement of reciprocal tariffs has heightened fears of a global trade war, prompting investors to seek refuge in precious metals.
Gold prices surged to a record high of $3,167.57, while silver traded around $33.15, reflecting increased safe-haven demand.
Futures markets are pricing in four Federal Reserve rate cuts by the end of 2025, with a 64% probability of a July cut. This dovish outlook supports gold and silver prices, as lower interest rates reduce the opportunity cost of holding non-yielding assets.
The upcoming U.S. NFP report is forecasted to show an increase of 135,000 jobs in March.
Disappointing employment data could bolster gold and silver prices, reinforcing expectations of rate cuts.
strong labor market data might dampen safe-haven demand.
