According to CME FedWatch, there’s an 80% probability of a 25-basis-point rate cut next week, reinforcing the view that the central bank will pivot toward a more accommodative stance.
“Gold dips were being bought as recently as yesterday, but the sharp jump in volatility at the highs is flashing caution,” said Tai Wong, an independent metals trader. “The market may need to consolidate before any new leg higher.”
Silver Follows the Trend
Silver tracked gold’s pullback, pressured by softer industrial demand and risk rebalancing. Analysts at Metals Focus noted that silver’s dual role — as both a safe-haven and industrial asset — may help cushion the downside once speculative selling fades.
Short-Term Forecast
Gold is consolidating near $4,080, with potential upside toward $4,270 if momentum strengthens. Silver trades around $48.30, steady above key support at $47.50, suggesting near-term stability ahead of the Fed’s decision.