Gold prices are hovering near $3,297, defending the rising trendline and major support zone around $3,270, where a triple-bottom structure is forming. The pivot point sits around $3,269, offering critical near-term support. Immediate resistance stands at $3,369, followed by $3,434, and the next key target at $3,500.

A breakdown below $3,270 could open the door toward $3,196 and potentially $3,152. The 50 EMA at $3,323 and the 200 EMA at $3,242 are important trend guides—price action currently dances between them.

A clean bullish reaction above $3,323 would strengthen the short-term outlook, while a failure to hold $3,270 may shift momentum back to sellers.

Silver (XAG/USD) Price Forecast: Technical Outlook