Gold and Silver Trading Before Federal Reserve Meeting | Metals Edge 5.3.22

Posted: May 3, 2022, 11:34 a.m.

Phillip Streible, Chief Market Strategist of Blue Line Futures presents Metals Edge:

Key Takeaways:

-Fed Meeting is tomorrow, May 4, 2022, with all eyes on how hawkish the tone will be.

-The US Dollar and Gold are negatively correlated. A pullback in the $ is welcomed to give Gold some bullish legs.

-Platinum has broke to the upside on improving US factory orders. $1010 lines up with the 200DMA, which is a good level to take off longs.

-Silver continues to follow weakness in copper.

-Grain markets are coming back to constructive levels. CME micro contracts are a great way to build a position!

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