Gold and Silver Prices Hold Steady: XAU Nears $3,387

Gold trades near $3,387 as expectations for a Fed rate cut increase. Meanwhile, silver consolidates below $36.64 with breakout potential towards $36.88.

Market analysts note that both precious metals are currently influenced by shifts in monetary policy and investor sentiment. Rising inflation and economic uncertainty are driving demand for gold, while silver looks to reposition itself for potential gains.

Traders should keep a close watch on upcoming economic announcements that could sway gold and silver prices in the short term.