Federal Reserve Chair Jerome Powell may cut rates next month, but rising inflation could complicate that decision. Gold prices are steady, though uncertain Fed policy may limit gains. Spot gold closed Friday at $3,417.2 an ounce, up 35.6 from the previous session and just spending 6 continuous trading sessions before reclaiming the $3,400-handle. In this post we are not writing about the fundamentals surrounding the pricing of metals but giving you tradeable opportunities heading into the next week along with immediate support and resistance levels and some very actionable trade ideas:

Gold futures: Continuation long trades are suggested with immediate resistance is between 3432~3450. Pulling back into 3393 would be ideal price placement for long trades targeting 3438, stop would be below 3375.6 so if you are trading this idea, trade smaller lots as the stop are wider than normal.

Silver futures: Settling at 38.88 makes an ideal entry range much lower between 38.030 and 38.420, therefore this is a broad entry range suggestive of the need to do scale-in type of trades with smaller lots. Stop should be an even 38 with a potential profit target above 39.410.

Palladium futures: Immediate support is 1112.5 and while trading long use a stop just immediately below here while the most exciting entry range is between 1121~1127.5 targeting 1167 for a profit target.

Platinum futures: Immediate support is 1338, so trading this to the upside would mean one should be prepared for a wider stop as this instrument has had very wild swings and finding it very difficult to tear into the 1400-price handle. Trade entry range could be between 1338~1347 with a stop below 1325, while looking for 1405 for a profit target. The October contract has 35+ odd days to expiration.

Copper futures: This alongside the other metals remains a buy with buy price points between 4.4415~4.4490 with a hard stop at 4.4300 targeting 4.4955 for a potential profit target.

Come trade metals and other futures with us; we deliver actionable intelligence in the futures markets with appropriate risk management controls. A commodity futures portfolio can never be a buy and hold. It requires active management as you may land up owing more than you invest with futures with the risk of losing capital being very high if not actively managed.