Global gold and silver prices rose on the morning of May 26th.

SKĐS - World gold and silver prices rose on the morning of May 26th (Vietnam time) due to positive news from the Strait of Hormuz and the Fed's intention to cut interest rates despite rising inflation in the US.

Currently, spot gold is trading around $4,554.80 per ounce, up 1.00%, while spot silver is at approximately $77.805, up 3.03% during the session.

The US stock and bond markets were closed for Memorial Day, while the US economic calendar showed no significant data releases.

The next key US economic data releases include the S&P/Case-Shiller home price index for March, to be released on May 26th, and the consumer confidence index for May, to be released at the same time.

The U.S. financial markets will be watching a series of data including Federal Reserve manufacturing data, personal income and spending, durable goods orders, second-quarter GDP estimates, new home sales, wholesale inventories, and the Chicago PMI index.

World gold and silver prices both rose on the morning of May 26 (illustrative image).

The Strait of Hormuz continues to be a geopolitical focal point influencing energy, inflation expectations, and precious metals. However, Monday's market movements reflected expectations of de-escalation of tensions rather than the risk of new disruptions. Oil prices fell to a two-week low on hopes that the US and Iran could reach a peace agreement, allowing the reopening of the Strait of Hormuz. Brent crude fell below $100 a barrel, while US crude retreated to around $90 a barrel.

This development supports gold and silver prices by reducing the risk of energy inflation, putting downward pressure on the US dollar and interest rate expectations, although a successful deal could also weaken safe-haven demand. In other markets, the most noticeable impacts are the decline in crude oil prices, the recovery in global equities, a weaker dollar, and downward pressure on interest rates for interest rate-sensitive assets.

Global stock markets rose across the board amid a holiday in the US cash markets. Japan's Nikkei 225 gained nearly 3%; Europe's Stoxx 600 rose 0.8%; France's CAC 40 gained 1.1%; Germany's DAX increased 1.0%; and the UK's FTSE 100 rose 0.2%. US stock futures also advanced as traders anticipated a cooling of the oil-related inflation shock, while the US dollar weakened against major currencies.

In other markets, Nymex WTI crude oil prices fell sharply, trading around $91.83 a barrel, while Brent crude was near $98.68 a barrel. The US dollar index edged lower. The yield on 10-year US Treasury bonds did not trade in cash during the session as the bond market was closed for Memorial Day.

Technically, the next upside target for gold buyers is to push the price above the resistance zone of $4,580.80 to $4,660 per ounce, then towards $4,678 and $4,800 per ounce.

Conversely, the sellers' goal is to push the price below $4,533.90 per ounce, before targeting deeper support levels at $4,500 and $4,380 per ounce.

The nearest resistance levels are at $4,580.80 and $4,660, respectively, while the nearest support levels are at $4,533.90 and $4,500.

For spot silver, the next upside target for buyers is to push the price above the resistance zone of $78.95 to $89.00, before heading towards $90.00 and $100.00. Meanwhile, sellers are aiming to push the price below $76.40, with next targets at $72.00 and $70.00.

The first resistance level was noted at $78.95, followed by $89.00. The nearest support levels are at $76.40 and $72.00.

Source: https://suckhoedoisong.vn/gia-vang-bac-the-gioi-cung-tang-sang-26-5-169260526070420363.htm