ProShares Ultra Gold

UGL

Market cap $1.08B

Silver has corrected sharply from its record high, but as long as the $50 to $60 support zone holds, the broader bullish structure, persistent market deficit, lingering liquidity risk, and stronger demand from renewables and electrification continue to favor another major rally.

Gold market gains as oil drops and tensions ease. Gold price forecast tracks Fed outlook, with rate cut odds slipping to 27% and uncertainty rising.

The gold market delivered its fourth straight positive weekly performance, helped considerably by the announcement of a ceasefire between Israel and Hezbollah and the full reopening of the Strait of Hormuz on Friday morning.

Gold extends its rebound into key resistance while holding strong support confluence, signaling continued upside potential if the 50-day moving average is decisively reclaimed.

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.

The gold market continues to move on interest rates, which in turn are moving due to the latest headlines in the Middel East, which now have taken a decidedly positive turn. With the Straight of Hormuz now open, this is a major positive boost.

Gold continues to dance around the 50-day EMA on Friday, as we are waiting to find out the next move, and where we are going. The interest rate markets continue to be the main driver.

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.

The crypto crowd spent years positioning Bitcoin as the ultimate hedge against a falling dollar. Did it pay off?

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.