Silver (XAG/USD) is currently trading within an important technical structure on the 4-hour chart. Price has been forming lower highs and lower lows since the mid-August peak near $67.00, creating a descending channel.
As per our anticipation, Gold has delivered the expected move from our marked H4 FVG around 4403–4410. 🎯
Oil prices rose in early trade on Wednesday, jumping for the fourth day in a row due to supply concerns as investors considered conflicting messages from Tehran and Washington about whether the Strait of Hormuz is open to ships.
UBS has extended its gold price projection by one quarter, establishing an end-of-September 2027 objective of $5,400 per ounce, citing further gains from dropping real interest rates and continuing investment demand.
Traders should remain alert to several important market-moving events and economic indicators that could influence currency pairs, commodities, and broader risk sentiment. FX option expiries, central-bank communication, U.S. economic data, and Chinese economic releases could all contribute to increased volatility.
Geopolitics & oil: Oil prices have extended gains for a fourth day amid Middle East tensions (UAE–Iran, Strait of Hormuz concerns), supporting commodity-linked currencies and weighing on risk sentiment in Asia.