Gold has been marching higher lately, standing strong even after touching new all-time highs this year. It’s currently trading in the upper $3,350s per ounce, having cooled off just a bit from its record run in April, but the bullish tone hasn’t faded. Investors and central banks continue to stack up gold as a shield against economic storm clouds—think global uncertainties, inflation worries, and currency swings.
On the charts, gold has been bouncing around a wide range, but buyers seem ready to step in whenever there’s a dip. Technical indicators, like the RSI and momentum signals, point toward room for more upside, provided prices hold above the $3,350 zone. If gold manages to break out above the latest resistance, there's a chance it will make another attempt at those record levels, though occasional pullbacks seem part of the game given how far it’s come this year.
Silver, meanwhile, has been on a run of its own. It recently punched up to its highest point since 2011, briefly topping $39 before easing back slightly. This surge is being fueled by both investor appetite and real-world demand—industries like solar and electronics are hungry for silver, and worries over tight supplies aren’t helping calm the market. The past week has brought volatility: after such a sharp move higher, markets are prone to bouts of profit-taking and quick corrections. Short-term, analysts are watching to see if silver can stay above support around $37.50—if not, a steeper pullback could be in the cards. But the broader trend still favors the bulls, especially as supply challenges and inflation anxieties keep stacking the deck in silver’s favor.
N/B: All screenshots are mine.
