Gold Prices Fall Below $5,250; Silver Rebounds

Gold prices fell below $5,250 after briefly hitting a new overnight high. The precious metal currently trades at $5,182. A stronger US dollar and a hawkish Federal Reserve stance weighed on gold.

The US Federal Reserve remains cautious on interest rate cuts. Minutes from the January FOMC meeting suggest cuts will only happen if US inflation rises again. This outlook helps keep the US dollar strong, pressuring gold.

Fed Governor Christopher Waller also suggested rates could remain unchanged in March if labor data stays stable. Market expectations remain mixed, with the CME Group’s FedWatch Tool still pricing in three rate cuts this year. Geopolitical tensions, particularly in the Middle East, continue to support gold’s safe-haven demand.

Gold still sits above the 0.50 Fibonacci line at $5,000 and nears the 0.618 retracement at $5,141. This indicates an intact uptrend. A rising trendline from $4,400 and the 50-day moving average at $4,685 offer structural support. Gold faces resistance near $5,300.

Silver is trading around $88.90 on the 4-hour chart, rebounding from a $71.08 low. The metal is now above the 0.382 Fibonacci level at $86.13, favoring buyers. The 50-period moving average near $85.50 is trending up, with the 200-period average at $86.10 providing support. Silver faces major resistance at $92.96.