A nearly 3% increase in oil futures today is putting pressure on precious metals prices and supporting ongoing profit-taking after the recent rebound in the metals market. Yields on U.S. Treasuries are rising today by more than 2 basis points for both 10-year and 5-year bonds. The U.S. dollar index has had a “strong” run, rebounding from 98 to 98.55 over the past several hours.
GOLD, SILVER, OIL charts (H1)
Gold has pulled back from nearly $4,900 to $4,600 per ounce, and it appears that if this trend continues, levels around $4,300–$4,400 per ounce cannot be ruled out.
Source: xStation5
Silver has declined by 12% from its local highs and is hovering near $73 per ounce - about 40% below the $120 per ounce seen at the turn of January and February.
Source: xStation5
Oil prices have dropped from around $112 to approximately $103.7 per barrel, following a strong rebound from about $83 per barrel. The 71.8 Fibonacci level now appears to be acting as a significant resistance.
Source: xStation5
Market Wrap: European banks under pressure, oil above $100
Chart of the day 🚩USDJPY with mixed reaction to cautious Bank of Japan decision. Is stagflation heading to Japan? (28.04.2026)
Economic calendar: US CB Consumer Confidence report in focus
Morning wrap 📈 Oil at the highest level since 7 April, Wall Street uncertain ahead of the Fed
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
