Gold Spot Price AUD $5921.44

Silver Spot Price AUD $86.27

Platinum Spot Price AUD $2370.19

Markets are again focused on US inflation, with next week’s Consumer Price Index (CPI) figures expected to come in hotter than previously hoped. Forecasts around 4.2% annual inflation are raising fresh concerns that the US Federal Reserve may not be finished with interest rate increases. The challenge for policymakers is that the economic picture remains mixed. Employment and consumer spending continue to show resilience, while other indicators suggest growth is beginning to slow. If inflation remains stubbornly high, investors may need to adjust to the prospect of tighter monetary policy for longer.

Gold has paused following its recent recovery, consolidating after rebounding from oversold conditions. Attention is now firmly on the 50-day moving average, a technical level many traders use to gauge market momentum. A sustained move above this level would suggest buyers are regaining control and could mark the beginning of a stronger recovery. Until then, the precious metal is likely to remain sensitive to incoming economic data, particularly inflation and interest rate expectations.

Silver has experienced a steeper decline than gold, reflecting the extraordinary gains it delivered over the past year. After such a strong rally, periods of profit-taking and price corrections are not unusual as markets seek more sustainable valuations. While the recent weakness has tested investor confidence, silver’s long-term fundamentals remain supported by both investment demand and its growing industrial use. For now, both precious metals appear to be waiting for the next major economic catalyst before deciding their next direction.

Enjoy today’s charts

Gold daily chart, with 50MDA