Gold (XAUUSD) & Silver Price Forecast: Triple Bottom in Gold, Silver Eyes Breakout

Market Overview

Gold prices fell during early Asian trading hours, with spot XAU/USD edging toward the $3,300 mark, pressured by renewed US dollar strength and a shift in global investor sentiment toward risk assets.

The broader retreat comes amid signs of improved dialogue between the United States and China, which have dampened safe-haven demand. Beijing’s announcement of fresh tariff exemptions on select US goods—its third batch this quarter—was interpreted by markets as a constructive step.

Meanwhile, US Treasury Secretary Scott Bessent said trade relations with key partners were “progressing,” reinforcing the risk-on mood in equity markets.

Fed Policy Outlook Offers a Floor for Precious Metals

Despite short-term pressure, gold remains underpinned by expectations of a more dovish Federal Reserve. Futures markets now price in a 76% probability of a rate cut by June, with three total cuts expected by year-end, according to CME FedWatch.

Lower rates reduce the opportunity cost of holding metals, providing a buffer against aggressive declines.

Upcoming US economic data—including the JOLTS job openings, core PCE inflation, and April’s Nonfarm Payrolls—may serve as catalysts. Until then, metals are likely to remain sensitive to macro crosscurrents and dollar positioning.

Short-Term Forecast

Gold hovers near $3,315, supported by $3,270, as markets await key U.S. data. Silver steadies above $33, but momentum hinges on a breakout above $33.27 to confirm upside.

Gold Prices Forecast: Technical Analysis

Gold (XAU/USD) is holding steady at $3,315 after bouncing off a strong support zone near $3,270, which has now formed a visible triple bottom on the 2-hour chart. That support area is backed by the 200 EMA, currently at $3,251, adding more technical weight.

On the upside, immediate resistance sits at $3,368, followed by $3,434. Momentum remains mixed — price is still below the 50 EMA ($3,327), suggesting bulls aren’t fully in control yet. But as long as gold stays above $3,270, the bias leans slightly bullish.

A break below that level, however, could shift sentiment fast. Traders should keep an eye on $3,269 as the line in the sand for this short-term trend.

Silver (XAG/USD) Price Forecast: Technical Outlook

Silver (XAG/USD) is trying to regain its footing around $33.08 after bouncing off support near $32.66. The chart shows a gentle ascending trendline offering support, while price remains squeezed beneath $33.27 — the immediate resistance.

A break above this could open room toward $33.70 and then $34.15. On the downside, keep an eye on $32.66 and $32.40 for support. The 50 EMA sits at $33.07, with the 200 EMA lower at $32.66, reinforcing that support zone.

Momentum favors bulls as long as price holds above the rising trendline, but a close above $33.27 is still needed to confirm upside continuation. It’s a tight range — patience will matter here more than speed.