Gold and silver prices edge up amid cautious market sentiment

The current low volatility of gold prices above $3,000 suggests the possibility of a steady rise to new records. April gold futures are currently up $6.20 at $3,032.10 an ounce, while May silver futures are up $0.098 at $34.285 an ounce.

Stocks were mixed in Asian and European markets in a quiet session, while US stocks were forecast to open slightly lower in New York.

The recent recovery in major US indices is starting to show signs that the market may have bottomed, meaning that risk aversion is easing, reflecting that investors are getting used to the destabilizing policies of the current administration.

In the foreign exchange market, the USD index rose slightly. Nymex crude oil prices consolidated at around $69.50/barrel. The yield on the 10-year US Treasury bond is currently at 4.338%.

US economic data scheduled for release today include the MBA mortgage applications survey, durable goods orders and the DOE energy inventory report.

Technically, April gold futures are in a strong short-term uptrend. The next target for bulls is to push prices above the key resistance level at $3,100.

Meanwhile, the bears are aiming to drag the price below the $2,900 support. The immediate resistance levels are seen at $3,042.40 and $3,050, while the immediate support is seen at $3,017.80 and $3,007.70.

Silver has maintained its three-month uptrend despite the volatility. Bulls are targeting a break above the resistance at $35.80, while bears are looking to push prices below $32.215.

The immediate resistance levels are at $34.56 and $35, while the immediate support levels are at $34 and $33.38.

Source: https://baoquangnam.vn/gia-vang-va-bac-tang-nhe-giua-boi-canh-thi-truong-than-trong-3151504.html