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<\/p>\n(Kitco NewsWire) – Spot gold and silver prices are modestly higher in late-afternoon U.S. trading Friday, as crude oil pulled back from Thursday\u2019s spike, Treasury yields eased and the U.S. dollar held near recent highs. At the time of writing, spot gold was trading near $4,052.70 an ounce, up 0.08%, while spot silver was trading near $58.16, up 0.87% on the session.<\/p>\n
Gold\u2019s session range was $4,021.20 to $4,083.10, leaving the metal above Thursday\u2019s lows but below the $4,080 to $4,140 resistance region identified in the latest technical setup. Silver\u2019s session range was $56.98 to $59.10, with the metal rebounding from Thursday\u2019s selloff but still below the $59.23 to $60.76 resistance band.<\/p>\n
North American equities closed mixed as the Dow recovered while technology shares remained under pressure. The S&P 500 rose 3.68 points, or less than 0.1%, to 7,411.98, the Dow Jones Industrial Average gained 235.60 points, or 0.5%, to 51,947.25, the Nasdaq Composite fell 161.87 points, or 0.6%, to 24,975.82 and the Russell 2000 lost 10.16 points, or 0.3%, to 2,930.00. In Canada, the S&P\/TSX Composite rose 167.05 points, or 0.47%, to 35,359.71.<\/p>\n
European equities closed higher as oil prices fell back below Thursday\u2019s highs and earnings supported sentiment. The STOXX Europe 600 rose 5.24 points, or 0.82%, to 644.51, Germany\u2019s DAX gained 335.88 points, or 1.36%, to 25,099.00, France\u2019s CAC 40 added 73.19 points, or 0.88%, to 8,372.28 and London\u2019s FTSE 100 climbed 97.06 points, or 0.91%, to 10,736.23.<\/p>\n
Positioning after the latest economic data remains two-sided. U.S. business activity accelerated to an eight-month high in July, new home sales rose in June and Thursday\u2019s jobless claims report showed initial claims at 187,000, reinforcing the view that layoffs remain historically low. The data have limited the dovish impact from earlier CPI and PPI softness, while oil volatility has kept inflation risk in the foreground. Markets still expect the Fed to hold next week, but surprise-hike risk has not disappeared. The 10-year Treasury yield eased to 4.678% after reaching an 18-month high, while DXY finished near 101.47. That leaves gold supported by lower yields on the day, but capped by a dollar that remains near the upper end of its recent range.<\/p>\n
The Strait of Hormuz situation is best characterized as open but highly stressed transit under active military, shipping and diplomatic pressure, not a normalized operating environment. Brent crude fell to $96.78 after briefly trading above $102, while WTI settled near $89.31, as reports of renewed peace-talk efforts cooled part of the war premium. U.S. and Iranian forces remain engaged around the Gulf, and Houthi threats against Saudi-linked shipping have kept Red Sea and Gulf flows under pressure. For gold, the impact remains two-sided: geopolitical risk supports defensive demand, but any renewed oil spike would lift inflation expectations, push yields higher and limit bullion\u2019s upside. For broader markets, Friday\u2019s trade was oil lower, yields lower, the dollar steady, equities mixed and precious metals firmer.<\/p>\n
Traders are watching next week\u2019s Fed decision, Q2 GDP, the Fed\u2019s preferred PCE inflation measure and any fresh disruption to Hormuz or Red Sea shipping lanes. A sustained move above $4,083.10 would improve gold\u2019s short-term setup, while a break below $4,021.20 would return focus to Thursday\u2019s support zone.<\/p>\n
The key outside markets see Nymex WTI crude oil prices lower and trading near $89.31 a barrel, while Brent crude was near $96.78. The U.S. dollar index is steady near 101.47. The yield on the benchmark 10-year U.S. Treasury note is trading near the 4.68% area.<\/p>\n
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Technically, spot gold bulls have regained some near-term momentum after prices recovered from $4,021.20, but the market still needs to clear the breakout zone identified in the latest short-term setup. Bulls’ next upside price objective is to push prices back above $4,080, with a sustained move targeting $4,140 and then $4,200. Bears’ next near-term downside price objective is a break below $4,021.20, with deeper downside targets at $4,040\u2019s failed-breakout region and then $3,965. First resistance is seen at $4,080 and then at $4,140. First support is seen at $4,021.20 and then at $3,965.<\/p>\n
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Spot silver bulls have improved the near-term technical setup after prices rebounded from $56.98 and moved back toward the 100-period moving average near $59.23. Silver bulls’ next upside price objective is to drive prices back above $59.23, with a move above that level targeting $60.76 and then $63.24. The next downside price objective for the bears is a break below $56.98, with deeper downside targets at $56.39 and then $54.69. First resistance is seen at $59.23 and then at $60.76. Next support is seen at $56.98 and then at $56.39.<\/p>\n
Disclaimer:\u00a0The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and\/ or damages arising from the use of this publication.<\/p>\n","protected":false},"excerpt":{"rendered":"(Kitco NewsWire) – Spot gold and silver prices are modestly higher in late-afternoon U.S. trading Friday, as crude…\n","protected":false},"author":2,"featured_media":558392,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[13286,13278,114,13282,1152,13277,4404,13280,13279,13281,12858,1247,85,13285,6453,46,13269,13287,13274,13288,13276,13271,13272,13270,13273,238,13275,13284,450,2796,13283,7549],"class_list":["post-558391","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bank-forecasts","tag-bitcoin-news","tag-business","tag-central-banks","tag-charts","tag-crypto-news","tag-currency","tag-economic-reports","tag-ethereum-news","tag-forecasts","tag-global-economy","tag-gold","tag-il","tag-international-policy","tag-interviews","tag-israel","tag-kitco-news","tag-market-nugget","tag-metals","tag-mining-minutes","tag-mining-news","tag-palladium","tag-pgm","tag-platinum","tag-platinum-group-metals","tag-politics","tag-precious-metals","tag-rare-earth-metals","tag-roundups","tag-silver","tag-tech-metals","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/558391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=558391"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/558391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/558392"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=558391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=558391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=558391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}