iShares MSCI Global Silver and Metals Miners ETF

SLVP

Market cap $997M

Gold and silver remain under pressure as a stronger U.S. dollar, higher oil prices, and Fed policy risks weigh on precious metals, while traders watch key breakout levels at $5,000 for gold and $89 for silver.

Spot gold prices are higher and spot silver prices are lower after the close Friday, as a sharp monthly drop in crude oil reduced inflation pressure while a firmer U.S. dollar kept silver under pressure.

Gold prices gained ground as traders bet that U.S. will reach a deal with Iran soon.

Spot gold prices are higher and spot silver prices are slightly lower in early U.S. trading Friday, as lower crude oil prices and easing Treasury yields supported bullion while silver remained capped below near-term moving-average resistance.

Gold and silver traded with mixed signals as the Middle East truce held firm. Gold bounced strongly off $4,514 channel support while silver slipped to $75.10.

Gold and silver moved higher as traders reduced their bets on hawkish Fed.

Gold and silver showed limited conviction as the Middle East truce held firm. Gold broke decisively under $4,500 with bearish channel structure while silver traded at $73.42.

Silver's breakneck rally of over 140% last year is now deterring buyers in various industries, said UBS. Its use in a wide range of industrial purposes means it is more sensitive to the economic cycle than gold.

Gold remains the anchor of the new commodity cycle, and the yellow metal's secular bull market is still intact despite the recent volatility in precious metals, according to Doug Moglia, macro and market strategist at Rockefeller Global Investment Management.

Iran deal optimism did not provide support to precious metals markets.