
Today's Precious Metals Update
The precious metals complex kicked off the new year with a subdued performance on January 13, 2026. As shown in the table below, both gold and silver prices remained flat, with minimal changes of $0.00.
| Metal | Price (USD) | Change | % Change | Day High | Day Low |
|---|---|---|---|---|---|
| Gold (XAU) | 4582.70 | 0.00 | 0.00% | 4628.53 | 4536.87 |
| Silver (XAG) | 583.96 | 0.00 | 0.00% | 589.80 | 578.12 |
Gold (XAU) Technical & Macro Analysis
Technical Overview
Gold prices have been oscillating within a relatively narrow range, with the $4500-$4700 level acting as key support and resistance areas. The price remains above the 200-day moving average, indicating a bullish bias in the short term.
Macro Analysis
The lack of significant changes in gold prices can be attributed to several factors:
- Inflation Expectations: Despite rising inflation concerns, expectations remain relatively contained, limiting upward pressure on gold.
- Yields: The recent decline in US Treasury yields has boosted the appeal of gold as a hedge against inflation and interest rate risk.
- Central Bank Expectations: The Federal Reserve's stance on monetary policy remains uncertain, but a more dovish tone would likely bolster gold prices.
- Risk Appetite: The ongoing market volatility and geopolitical tensions have not yet triggered a significant surge in safe-haven demand for gold.
Trading Bias
Based on the technical and macro analysis, we maintain a HOLD recommendation for gold in the short term. While gold remains an attractive hedge against inflation and interest rate risk, its price is likely to be range-bound until clearer signals emerge from the market or central banks.
Key Support & Resistance Levels
- Key support: $4500
- Key resistance: $4700
Silver (XAG) Technical & Macro Analysis
Technical Overview
Similar to gold, silver prices have also been stuck in a tight trading range, with key support and resistance levels at $570-$600.
Macro Analysis
The flat performance of silver can be attributed to:
- Inflation Expectations: Silver's sensitivity to inflation expectations is higher than gold's. As such, the subdued inflation concerns are weighing on silver prices.
- Industrial Demand: The ongoing weakness in industrial production and manufacturing PMIs is dampening demand for silver.
- Risk Appetite: While geopolitical tensions remain high, they have not yet triggered a significant surge in safe-haven demand for silver.
Trading Bias
Given the technical and macro analysis, we recommend a SELL recommendation for silver in the short term. Silver's price is likely to remain under pressure until clearer signals emerge from the market or central banks.
Key Support & Resistance Levels
- Key support: $570
- Key resistance: $600
Actionable Insights & Risk Management Reminders
While gold and silver prices have remained flat, it's essential to remember that both metals can be volatile and sensitive to changes in market sentiment. Traders should exercise caution and maintain a diversified portfolio to manage risk.
In conclusion, the lack of significant price movements in gold and silver reflects the ongoing uncertainty and mixed signals from the market and central banks. As always, traders must remain vigilant and adjust their strategies accordingly.
By Malik Abualzait
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