Fed interest rates and Gold | Elliott wave analysis of GOLD and SILVER | Oct 29 2027

AI-generated source summary

The analysis focuses on gold (XAUUSD) and silver (XAGUSD) from a long-term weekly perspective. The speaker identifies a potential Elliott Wave pattern suggesting a larger bullish trend for both assets. Gold is currently at a critical support zone around $1672, which previously acted as a multi-year low in October 2022. Despite aggressive rate hikes by the Federal Reserve from near zero to 4%, gold has maintained its price above this key level. The speaker anticipates that the Fed's increased rates are peaking and predicts that future rate cuts, possibly starting in December, will be a catalyst for gold's upward movement. The failure bound for gold is placed below the $3950 mark, implying that a break below this level would invalidate the bullish thesis. The target price is set high, around $6500, suggesting a significant long-term uptrend. For silver, the analysis points to a similar bullish outlook, with a critical support level around $48.34. The speaker believes silver is also poised for a substantial upward move, targeting $230, with a failure bound below $46.0. The overall sentiment is bullish for both precious metals, anticipating a major upside move driven by potential Fed policy shifts and the continuation of the identified long-term bullish patterns.

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