Gold stays firmly in an upward trend, driven by the demand for safe port in the midst of economic uncertainty. President Donald Trump’s aggressive rate policy has increased concern about world trade, which pushes investors to gold as a hedge.
The demand from the Central Bank continues to offer strong support, whereby analysts at Commerzbank notice that institutional purchasing remains stable despite a lack of new data. As an addition to the Bullish Case, the expectations of the interest rate cuts of the Federal Reserve have been reinforced in 2025, which further stimulates Gold’s attraction.
Goldman Sachs has raised its gold objective at the end of the year to $ 3,100 per ounce, referring to structural demand from central banks and growing trade -related volatility. With gold for almost 10% years to date, the momentum remains strong, creating a favorable background for silver.
Will silver break through the resistance or face a pullback?
Silver closely follows Gold’s movement and is currently testing a critical Fibonacci resistance level at $ 32.53. A decisive outbreak above this level could cause acceleration to the peak of last week of $ 33.39, without major resistance outside that point.
However, not deleting $ 32.53 can invite the sales pressure, which means that a withdrawal to $ 31.81 may be activated. This level will be the key for traders who want to buy in any dips, because broader market fundamentals remain supportive.
What is the next step for Silver: Breakout or Consolidation?
The power of Gold continues to offer a solid foundation for the Silver meeting. If silver successfully breaks above $ 32.53, the next upward target is $ 33.39 and beyond. However, a rejection at this level can lead to a temporary dip that offers new access options.