Gold prices have extended their upward momentum at the start of the week, opening with a gap up in Asian trade and registering fresh lifetime highs ahead of the European session. Over the past two trading days, gold has consistently posted new record highs, reflecting strong bullish sentiment.
In my recent articles, I shared practical trading insights aimed at helping intraday traders navigate the ongoing volatility in Gold and Silver. Given current market conditions, I continue to believe that intraday trading remains the most effective and safest approach.
Precious metals remain under strong upward pressure this week, with prices hitting new highs once again. Gold February Futures touched a lifetime high near $4742.71 per ounce, while Silver March Futures surged to around $95.400, also marking a record high.
The rally in Gold and Silver is being driven by heightened market volatility, stemming from newly announced US tariffs on several European countries, expectations of Federal Reserve rate cuts, and ongoing geopolitical tensions involving the US/Iran, Russia/Ukraine, and broader Middle East risks.
Despite the strong uptrend, I anticipate heavy profit booking in Gold during today’s session. Traders should remain calm and prepared, as a sharp corrective move is likely within the next few hours, particularly before the European markets fully open.
Intraday Trading Strategy – Gold February Futures
Sell on rise: $4742 – $4752 range (lifetime high zone)
Stop Loss: $4801
Downside Targets: $4650 $4625 $4600 (expected within hours)
Intraday traders should not miss this opportunity to capitalize on profit booking in Gold. A correction of 1.5% to 2.5% is expected before the US session begins, offering a strong chance to recover past losses through disciplined intraday trades.
Silver prices have extended their strong upward momentum at the start of the week, opening with a gap up in Asian markets and registering fresh lifetime highs ahead of the US session. During the European morning session, prices surged sharply, with Gold rising over 3% and Silver jumping nearly 8%.
Over the last two trading sessions alone, Silver has repeatedly posted new record highs, witnessing more than 12% movement within just two days, highlighting extremely strong bullish sentiment and elevated volatility. In my recent articles, I have shared practical trading strategies to help intraday traders manage such challenging conditions in Gold and Silver. Given the current market structure, I continue to believe that intraday trading remains the safest and most effective approach.
Precious metals remain firmly bid this week, with prices once again touching new highs. Gold February Futures climbed to a lifetime high near $4742.71 per ounce, while Silver March Futures surged to around $95.400, also marking an all time high during the European session.
This sharp rally in Gold and Silver is being driven by heightened global uncertainty, including newly announced US tariffs on several European nations, expectations of Federal Reserve rate cuts, and persistent geopolitical tensions involving the US/Iran conflict, Russia/Ukraine war, and broader Middle East risks.
As repeatedly highlighted earlier, in such extreme volatility, especially in Silver, intraday trading is the most prudent strategy. At current lifetime high levels in Silver March Futures, traders should look for selling opportunities for profit booking.
Intraday Strategy, Silver March Futures
Sell near lifetime highs: $95.400 – $95.600
Stop Loss: $97.000
Downside Targets: $92.000 $91.000 $90.000
(Expecting more than 4/5% intraday correction from record highs)
If aggressive profit booking emerges today, intraday traders should not miss the opportunity to capture a potential 4% downside move in Silver. As discussed in my latest articles, Gold may also witness a 2% corrective move. Intraday traders are advised to sell at higher levels with maximum permissible quantity, and those holding existing long positions should consider hedging or exiting near the first target levels within the next few hours.
