• Silver price gains ground to around $36.10 in Monday’s early Asian session. 
• US attacked Iran over the weekend, boosting the white metal.
• The preliminary US S&P Global PMI for June is due later on Monday.

The Silver price (XAG/USD) edges higher to near $36.10, snapping the three-day losing streak during the Asian trading hours on Monday. The white metal attracts some buyers amid the rising tensions in the Middle East after the US bombed Iran’s nuclear sites. 

The United States carried out airstrikes on three nuclear sites in Iran early Sunday despite US President Donald Trump’s longtime promises to avoid new foreign conflicts. Iran has vowed to respond, saying it “reserves all options,” while Trump said that any Iranian retaliation against the United States “will be met with a force far greater than what was witnessed tonight.” Any signs of escalation could increase demand for safe-haven assets, such as Silver.

Federal Reserve (Fed) Governor Christopher Waller said on Friday that the Fed is in a position to cut the policy rate as early as July. The dovish remarks from Federal Reserve (Fed) officials provide some support for the white metal. Lower interest rates make silver cheaper for foreign buyers, increasing global demand.

On the other hand, renewed US Dollar (USD) demand might cap the upside of Silver. Investors await the preliminary reading of the US S&P Global PMI for June. If the US economic data came in stronger than expected, this could underpin the Greenback in the near term.

• Gold price closes in the bullish opening gap as sellers fight back control early Monday.
• US Dollar strengthens on risk aversion due to the US involvement in the Israel-Iran conflict.
• Gold price falls back to the critical 21-day SMA support at $3,351, with the bullish daily RSI.

Gold price has come under moderate selling pressure and reverts toward $3,350 early Monday, having faced rejection just shy of the $3,400 threshold.

Gold price awaits US PMIs, Fedspeak amid Middle East woes

In doing so, Gold price filled in the bullish opening gap of about $25, led by the market’s reaction to the weekend news of the US military involvement in the Israel-Iran conflict.

Early Sunday, US President Donald Trump announced that the United States (US) carried out airstrikes on three of Iran’s most critical nuclear sites, Fordow, Natanz and Isfahan.

In response, Supreme Leader Ayatollah Khamenei warned that American involvement would bring “irreparable damage.”

Markets fret over the Israel-Iran conflict translating into a wider Middle East regional war if Iran opts to retaliate with the closure of the Strait of Hormuz, which is the key passage of oil exports.

This nervousness has strengthened the haven demand for the US Dollar (USD), weighing on the USD-denominated Gold price.

Further, markets seem to believe that Iran may refrain from escalating the conflict by way of blocking the Strait of Hormuz even though its parliament has approved such a move.

This narrative appears to have reinforced selling in Oil prices, rendering negative for the inflation-hedge Gold price. Markets believed the Middle East escalation-driven surge in Oil price could stoke inflationary fears worldwide.

Attention now turns to the preliminary readings of S&P Global PMI data, especially from the Euro area and the US to gauge the health of the economies globally.

Downbeat data could rekindle global growth concerns, reviving the safe-haven appeal of the Gold price.

Additionally, if Iran retaliates firmly to the US bombing by accelerating its attacks on Israel and US bases, buyers could swing back in action amid investors’ run for cover in the ultimate traditional haven Gold price.

Speeches from several US Federal Reserve (Fed) policymakers will also be closely scrutinized after the Fed’s hawkish hold policy decision last week.

Gold price technical analysis: Daily chart

The daily chart shows that Gold price is back to testing the critical short-term support of the 21-day Simple Moving Average (SMA) at $3,351, breaching the 23.6% Fibonacci Retracement (Fibo) level of the April record rally once again at $3,377.

A failure to resist above the 21-day SMA on a daily closing basis will open up a fresh downtrend toward the 50-day SMA at $3,321, below which the 38.2% Fibo level at $3,297 will be threatened.

That said, Gold buyers remain hopeful so long as the 14-day Relative Strength Index (RSI) holds above the midline. The leading indicator is currently pointing south, near 53.

If the bright metal stages a comeback, it will need acceptance above the mentioned support-turned-resistance at $3,377.

The next topside target is seen at $3,400, above which the static resistance at $3,440 will be tested.

Buyers will then take on the two-month highs of $3,453.

• Gold price drifts higher to around $3,375 in Monday’s early Asian session.
• The escalating tensions after the US bombed Iran’s nuclear sites have boosted the Gold price. 
• Fed’s Waller said the central bank is in position as early as July for cuts.

The Gold price (XAU/USD) climbs to near $3,375 during the early Asian session on Monday. US President Donald Trump’s decision to join Israel’s war against Iran sharply escalates the conflict, which lifts the precious metal. Traders will keep an eye on the preliminary reading of the US S&P Global Purchasing Managers Index (PMI) for June later on Monday. 

The US carried out airstrikes on three nuclear sites in Iran early Sunday, directly entering Israel’s war with Iran despite Trump’s longtime promises to avoid new foreign conflicts. The escalating tensions after the US bombed Iran’s nuclear sites boost the safe-haven flows and benefit the Gold price, as it is traditionally considered a hedge during times of political and economic uncertainty.

Federal Reserve (Fed) Governor Christopher Waller said on Friday that the Fed is in a position to cut the policy rate as early as July. The dovish remarks from the Fed officials could weigh on the Greenback and provide some support to the USD-denominated commodity price, as a weaker USD makes Gold cheaper for foreign buyers. 

Investors brace for the preliminary reading of US S&P Global PMI for June. Any surprise upside in the US economic data could lift the USD and cap the upside for the yellow metal. 

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• Silver (XAG/USD) drops for a third straight day, tracking profit-taking as geopolitical risk premium eases.
• US President Donald Trump signals two-week window before deciding on possible US intervention in Iran–Israel crisis.
• The price hovers near $36.00, supported by the 100-period moving average on the 4-hour chart, intraday low is at $35.51.

Silver (XAG/USD) remains under pressure for a third day in a row on Friday, retreating further after US President Donald Trump announced he would hold off for two weeks before deciding whether the US should step into the escalating Iran–Israel standoff. This pause has eased some of the geopolitical risk premium that recently fueled safe-haven flows into precious metals, prompting traders to book profits and reassess positions as investors digest the shifting geopolitical landscape.

At the time of writing, Silver is trading around $36.00 during the American trading hours, recovering modestly after easing from an intraday low of $35.51. The metal found some support near its 100-period Moving Average (MA) on the 4-hour chart, which is acting as a key cushion for prices amid the current pullback.

From a technical perspective, Silver has begun to show signs of weakness in its recent uptrend, suggesting a potential deeper pullback as momentum wanes. After enjoying a steady climb within a neat rising channel since early June, the metal has now slipped below the channel’s lower boundary, signaling that buyers are losing grip, at least in the short run.

Currently, Silver is hovering just above its 100-period moving average around $35.65, which has reliably cushioned price dips in recent weeks. This dynamic support will be the first line of defense for bulls.

The Relative Strength Index (RSI) continues to drift lower after flashing a clear bearish divergence, reinforcing signs that bullish momentum is fading. At the same time, the Rate of Change (ROC) has slipped into negative territory, further confirming that Silver’s recent upward drive has lost steam and that the door is now open for a broader corrective phase.

Looking ahead, a sustained move back above the broken channel and a decisive break above $36.50 would be needed to revive bullish momentum and expose the next resistance around $37.00–$37.30. On the flip side, if Silver fails to defend the 100-period MA and slides below $35.50, the metal could come under increased pressure, with the next meaningful support seen at $35.00 and then $34.50. For now, the near-term bias remains cautiously tilted to the downside unless buyers regain control above $36.50 with conviction.

Natural gas price confirmed its move to the bullish track by providing new closes above $3.920 level, which forms the extension of an important support, to notice resuming the bullish attack and its stability near 4.100.

The stability of stochastic within the overbought level will provide extra momentum to ease the mission of hitting the target at $4.150, note that breaching this level will reinforce the chances for recording new gains that might extend to 4.220.

The expected trading range for today is between $4.050 and $4.220

Trend forecast: Bullish

Copper price didn’t succeed in recording any new gains recently below 61.8%Fibonacci correction level at$4.8100, contradicting the bullish scenario, to notice forming sideways trading by its fluctuation near 4.7500.

Note that the stability of $4.6600 as extra support besides the continuation of providing positive momentum by the main indicators, these factors make us keep preferring the bullish scenario until reaching the initial target at $4.8900 and surpassing it will ease the mission of reaching the next stations at 5.0300.

The expected trading range for today is between $4.7000 and 4.8900

Trend forecast: Bullish

Platinum price began forming some correctional trading after recording $1348.00 level, attempting to gather the gains by reaching $1275.00, which forms an extra support for the bullish scenario.

The price might be forced to form temporary sideways fluctuation until gathering the extra positive momentum, to ease the mission of reaching $1330.00, then wait to hit the next target near $1368.00, while the risk of changing the main trend will depend on the attempt of the price to decline below 1225.00 and providing repeated negative closes.

The expected trading range for today is between $1255.00 and $1330.00

Trend forecast: Bullish

Coffee prices confirmed their surrender to the bearish bias domination yesterday below the extra support at 345.00, forming a sharp decline, and breaking 38.2%Fionacci correction level at 326.60 to settle near 317.00.

Stochastic attempts to reach the oversold levels will increase the chances for gathering the negative momentum, which makes us prefer more of the negative attempts that target 309.60 level, reaching the next support at 293.50.

The expected trading range for today is between 309.60 and 330.00

Trend forecast: Bearish

This “higher-for-longer” stance dampens demand for non-yielding assets, such as gold. “The Fed remains committed to keeping policy tight until inflation is sustainably at 2%,” the FOMC noted. This shift in tone pushed real yields higher and pressured precious metals across the board.

Silver Tracks Gold Lower, Finds Support Near $35.60

Silver (XAG/USD) mirrored gold’s weakness, dipping to an intraday low of $35.66 before stabilizing near $35.63. Despite the Fed-driven pressure, silver’s downside was limited by broader risk aversion and continued demand for safe-haven assets.

Technical structure remains supported by the 50-day EMA and higher-low formations, while buyers appear to be stepping in at key levels, anticipating a rebound should uncertainty deepen across global markets.

Geopolitical and Trade Risks Underpin Safe-Haven Flows

Despite monetary policy headwinds, gold and silver continue to benefit from global uncertainty. Geopolitical tensions in key regions and trade policy risks—especially the potential for new U.S. tariffs ahead of the July 9 deadline—are fueling cautious positioning across equities and commodities.

Investors remain sensitive to any escalation in global tensions or disruptions in trade flows, which could reignite demand for metals. “We’re in a holding pattern, but safe-haven appetite could return quickly if headlines worsen,” noted a Hong Kong-based metals trader.

The U.S. Dollar Index slipped modestly following the Fed’s policy announcement, offering minor support to gold and silver. A weaker greenback typically benefits dollar-denominated assets, especially when paired with a broad risk-off tone seen in global equities.