Market insights

Gold (XAU/USD) Consolidates in the $2,300–$2,350 Range

After a sharp rise in spring, gold has entered a sideways phase. Investors are awaiting a signal from the Fed — either continuation of the rate hike cycle or a pause. In the short term — neutral dynamics, key support at $2,280.

Rising Real Yields Limit Gold’s Upside

The real yield on 10-year US bonds has risen above 2%, which traditionally puts pressure on gold, reducing its attractiveness as a non-yielding asset. This limits XAU/USD’s growth potential despite steady central bank demand.

Gold Demand in Asia Remains High

Data for May shows increased gold imports into China and India. This compensates for partial ETF outflows in the West. Support for gold remains strong near $2,280–2,300.

Silver (XAG/USD) Tests Key Resistance at $30.00

Silver continues to follow gold but shows higher volatility. Rising industrial demand (including solar energy) supports the price. A break above $30.00 opens the way to $32.00.

Gold/Silver Ratio
Declines — Silver Gains Advantage

The ratio fell below 75, indicating growing interest in silver as a more speculative asset. Historically, a decline in this index points to risk cycles and rising industrial demand.

Platinum (XPT/USD) Supported by Supply Deficit

The price remains above $1,050 per ounce. Strikes at South African mines and declining investment in the platinum sector support the market. Forecast — steady demand from the automotive industry (catalysts).

Palladium (XPD/USD) Remains
Under Pressure — EV Transition Reduces Demand

Palladium falls below $950. Structural demand decline due to increasing EV sales continues to weigh on the price. Short-term support at $900, but the long-term trend is bearish.

Copper Loses Ground — Market Reacts to China Weakness

The price dropped below $4.40 per pound. Expectations of slowing Chinese growth and weak property data trigger a correction. Support at $4.25, but in the long term, copper remains fundamentally strong due to the 'green transition.'

Physical Gold Market Faces Liquidity Shortage

Premiums on physical gold in Asia are rising, especially in Singapore and Hong Kong. This may indicate an approaching new growth impulse in the XAU/USD spot market.

Interest in Metals as a Hedge Against Geopolitical Risks Persists

Tensions in the Middle East and instability in Eastern Europe increase investor interest in defensive assets. Gold and silver are again considered as a 'portfolio anchor' in case of shocks.