Gold and Silver Prices Have Started to Rise: Where Are We Looking in the Market?

The Impact of U.S. Federal Reserve's Interest Rate Cuts

The expectations that the U.S. Federal Reserve (Fed) will continue to cut interest rates are continuously affecting precious metals. Starting the week positively, gold in ounces managed to recover part of the losses from last Friday. Market participants' eyes are on the U.S. inflation data to be announced on October 24 and the new trade talks between the U.S. and China.

Current Status of Gold and Silver Prices

This morning, gold prices reached as high as $4,274.08, and currently, it is trading at $4,266.64, with an increase of 0.37%. On the other hand, spot silver tested $52.29 and is currently trading at around $52.23, with a gain of 0.3%.

Market Sentiment and Analyst Opinions

Capital.com analyst Kyle Rodda stated, “The gold market is seeking to rebalance following the sales on Friday. After the price fluctuations of the past weeks, market sentiment has entered a normalization process.