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The Federal Open Market Committee held the federal funds rate in a range of 5.25% to 5.5% on Wednesday. Federal Reserve Chair Jerome Powell signaled central bank officials are on course to cut interest rates in September. What's next?

Gold and silver prices are weaker in midday U.S. trading Monday, amid key outside markets being in bearish daily postures: the U.S. dollar index is higher and crude oil prices are solidly lower. The general marketplace is tentative early this week, just ahead of a big and important U.S. economic data dump in the coming days. August gold was last down $5.60 at $2,375.00. September silver was down $0.295 at $27.71, and at a 2.5-month low.

Gold and silver prices are trading sharply lower in midday U.S. trading Thursday, on worries about lessening global demand for metals. Gold prices hit a more-than-two-week low and silver dropped to a 2.5-month low. Heavy profit-taking and weak long liquidation from futures traders are featured today. August gold was last down $53.60 at $2,362.30. September silver was down $1.231 at $28.09.

Central banks in BRICS+ and neutral countries are purchasing gold at an unprecedented rate, while political instability, inflation, and U.S. dollar weaponization are also bolstering gold’s appeal, according to Vahan Roth, executive director of gold tokenization firm Swissgrams AG.

Trump’s stated policies and Harris’ uncertain position are both contributing to gold’s near-term safe haven appeal, while demand data and technical indicators show silver’s luster is fading, according to Rhona O'Connell, Head of Market Analysis at StoneX Bullion.

Gold prices rocketed through resistance late Tuesday morning to set new all-time highs as the yellow metal rides a wave of rate cut optimism and geopolitical fear into uncharted territory.

July 9 - After testing resistance at $2,400 an ounce last Friday, the gold market has seen its bullish momentum wane.

Gold prices edged lower on Tuesday as Treasury yields held firm, while investors digested comments from Federal Reserve Chair Jerome Powell and looked forward to U.S. jobs data due later this week for more signals on U.S. interest rate cuts.

Gold prices slipped on Tuesday, hurt by an uptick in the dollar and Treasury yields as investors awaited U.S. inflation data due later this week that could provide cues on the timing of interest rate cuts by the Federal Reserve this year.

Although gold and silver are stuck in neutral at elevated levels, one market analyst remains a long-term bull on precious metals.