Gold, silver firmer as safe-haven demand up-ticks

Gold and silver gained modestly in early U.S. trading, rebounding on a renewed safe-haven demand amid fading hopes for de-escalation in the Middle East conflict. April gold futures rose $8.40 to $4,415.00, while May silver advanced $0.79 to $70.13. The intensification of geopolitical tensions, including Iranian strikes in the Gulf and increased U.S. military presence, has strengthened the metals' haven appeal. However, gains in precious metals are capped by a firmer U.S. dollar index, climbing bond yields (10-year Treasury yield at 4.4%), and underlying inflation concerns. Eurozone economic data show slowing growth with PMI dropping to 50.5 in March, signaling stagflation risks exacerbated by the Middle East war. S&P Global's Chris Williamson highlights rising prices stifling recovery in the region. Technically, gold bulls eye a close above significant resistance at $4,750, with immediate resistance at $4,500 and $4,537; support levels lie at $4,300 and $4,250. Silver faces resistance near $71 and $72.50, with support around $66 and $65. The Wyckoff Market Rating stands at 3.5 for both metals, indicating a moderately balanced market. The geopolitical and macroeconomic landscape remains key near-term catalysts for price direction.