Gold, silver see safe-haven demand uptick at mid-week

Gold and silver were bid on renewed safe-haven demand amid an ongoing Middle East war and uncertainty around the outcome, though both pulled back from intraday highs on short-term profit taking. At mid-day Wednesday, April gold was up $37 to $5,160, while March silver rose $0.607 to $83.485. Macro inputs were modestly supportive for metals: the U.S. dollar index was weaker, WTI crude was steady around $74.25/bbl, and the U.S. 10-year yield was near 4.1%. The piece frames the move as primarily risk-off flow driven rather than a strong impulse from energy or rates. Technically, Kitco/Wyckoff flags key near-term levels: for April gold, upside objective is a close above record/contract resistance at $5,626.80; immediate resistance sits at $5,200 then $5,250, with support at $5,092.80 then $5,000 (Wyckoff rating 6.5). For March silver, bulls target a close above $95.86 (this week’s high); resistance is $87.50 then $90.00, with support at $83.00 then $81.00 and a broader bearish objective cited at a close below $71.815 (Feb low; Wyckoff rating 5.5). Near-term catalyst/risk is headline-driven geopolitical escalation/de-escalation, with follow-through likely dependent on whether price can hold above first supports versus a deeper profit-taking retracement.