Gold and Silver Update: November 18, 2025
The precious metals market has experienced a mixed day today, with gold losing ground while silver managed to eke out a small gain. As of the current spot price, gold is trading at $4038.04 per ounce, down $7.14 or 0.18% from yesterday's close, while silver has climbed to $50.33 per ounce, up $0.14 or 0.34%.
Gold (XAU) Technical Analysis
Gold's performance today can be attributed to a combination of factors. Firstly, the gold price has been struggling to break through resistance levels in recent weeks, and today's decline could be seen as a continuation of this trend.
- The day high of $4055.40 is still short of the key 61.8% Fibonacci retracement level at $4111.23.
- However, we observe that gold has found support around $3998.03, which coincides with the 50% Fibonacci retracement level.
- Relative Strength Index (RSI) readings are hovering around 45, indicating a neutral to slightly bearish momentum.
Gold (XAU) Macro Analysis
Macro factors have also played a role in gold's underperformance today. With yields on the US Treasury bill rising by 2-3 basis points, investors appear to be taking profits from safe-haven assets like gold. Additionally, expectations of a more aggressive Federal Reserve tightening cycle may also be weighing on the metal.
However, it is essential to note that inflation data remains strong, and some analysts believe that higher yields will ultimately boost gold prices as investors seek protection against rising prices. Nevertheless, we maintain our cautious stance on gold in the near term due to the potential headwinds from interest rates and risk sentiment.
Short-Term Trading Bias: Hold
Given the mixed signals and conflicting drivers, we recommend holding onto current positions for now. While some investors may consider taking profits at these levels, we believe that there is still room for price exploration around $4000-$4100. Key support remains at $3998.03.
Silver (XAG) Technical Analysis
Silver has shown resilience today, posting a small gain amidst the gold's decline. We observe:
- The day high of $50.39 has pushed silver into the upper end of its recent trading range.
- However, it is crucial to note that silver remains below key resistance levels at $51.45 and $52.00.
- RSI readings are trending upwards but remain in neutral territory around 55.
Silver (XAG) Macro Analysis
Silver's performance today can be attributed to a combination of factors. On the positive side, we observe:
- Strong fundamentals: Silver prices have historically correlated with the growth prospects of major economies and industry developments.
- Supportive global demand trends for silver-based industrial applications continue to emerge.
On the other hand, risks remain high due to:
- Elevated USD strength could dampen the appeal of non-USD-denominated assets like silver.
- Volatility remains an overarching concern as interest rates and inflation data keep markets on edge.
Short-Term Trading Bias: Buy
We recommend buying silver at these levels for those with a risk appetite. With its relative outperformance today, we believe that silver may maintain some upward momentum. Support levels to watch are $49.36 (day low) and $48.50.
Key takeaways:
- Market participants should be prepared for continued volatility in the gold and silver markets.
- Short-term trading bias is Hold for gold and Buy for silver based on our analysis.
- Risk management remains essential, with clear stop-loss levels and position sizing guidelines recommended for active traders.
By following these insights and keeping an eye on market developments, investors can make informed decisions to navigate the ever-changing precious metals landscape.
By Malik Abualzait
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