Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision? - Mitrade

AI desk brief

Silver led a broad precious-metals rebound, trading back above $64/oz for the first time this week at $64.64 (+1.49%) while gold reclaimed $4,300/oz ahead of the Fed decision. The move was helped by the hike already being heavily priced (CME FedWatch at roughly 90% to 94.5% for 25bp), a stalled dollar near 99.6, and 10-year Treasury yields easing back to just under 5%.

Technically, silver needs a close above $64.86 to confirm the breakout, with support at $63.40, then $62 and $60. For gold, the key line is $4,280; resistance sits at $4,341, then $4,400 to $4,470, while a drop back below $4,280 would reopen $4,200 and $4,160. Hong Kong-listed gold miners also caught a bid, with Lingbao Gold up as much as 7% and Chifeng Gold up 6% to 7%.