PLN: EUR/PLN Trades Flat Near 4.20, NBP Rate Decision Eyed

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• An impressive $300.00 gain in Gold since New Year Eve, the precious metal is seeing further upside momentum, Safer Haven flow has been supportive on Tariffs Risks.
• Silver is now also getting dragged higher, although it is still short of Friday's printed high at 32.6520, which was also its highest print since early November.
• As we noted during the European Open, next resistance in Gold will be seen at $2917.5 - 1.764 proj of the Nov 14 - Dec 12 - 19 price swing.

Recent weakness in WTI futures marks an extension of the current corrective cycle. The 20-day EMA has been breached and attention is on support around the 50-day EMA, at $72.20. Price has through the average,, a clear break of it would suggest scope for a deeper retracement. This would open $68.05, the Dec 20 ‘24 low. On the upside, a clear reversal higher would refocus attention on $79.48, the Apr 12 ‘24 high and a key resistance. A bull cycle in Gold remains in play and the yellow metal has again traded to a fresh cycle high, today. The continued appreciation once again confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on the $2900.0 handle next. The first key support to watch is $2776.3, the 20-day EMA.

• WTI Crude up $0.73 or +1.03% at $71.71
• Natural Gas up $0.1 or +2.99% at $3.409
• Gold spot up $42.57 or +1.49% at $2903.46
• Copper up $1.7 or +0.37% at $460.7
• Silver up $0.48 or +1.52% at $32.3018
• Platinum up $8.56 or +0.87% at $987.16