USD/XAU and USD/XAG face pressure as dollar consolidates
The US Dollar Index (DXY) is consolidating near 104.80 levels, creating mixed conditions for precious metals pairs. Gold (XAU/USD) has found support at $2,315 per ounce, showing resilience despite dollar strength, while silver (XAG/USD) trades volatile around $30.50. The dollar's consolidation phase reflects balanced forces between hawkish Fed expectations and global growth concerns. Technical analysis reveals DXY facing resistance at 105.00, with support established at 104.50. Gold's inverse correlation with the dollar has weakened recently, as geopolitical tensions and central bank buying provide underlying support. Silver shows more sensitivity to dollar movements, with industrial demand concerns weighing on prices. Traders should watch for a decisive break in DXY above 105.00 or below 104.50 to determine the next directional move in precious metals versus the dollar.
Related Symbols:
DXY
XAUUSD
XAGUSD
This is a summary of the original article by kingworldnews.com. To read the complete article, please visit the source website:
Read Full Article at kingworldnews.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.