Copper price failed to surpass $4.8100, which forces it to activate the attempts to gather the gains, to reach $4.7400 to gather the required extra positive momentum to confirm the bullish scenario in the current period trading.

Depending of forming extra support at $4.6600 level, to wait for renewing the bullish attempts, surpassing $4.8100 level makes us expect to reach 68.1%Fibonacci correction level at $4.8900.

The expected trading range for today is between $4.700 and $4.8100

Trend forecast: Bullish

• XAG/USD is down 0.70% after hitting a two-day low; bullish momentum remains intact above the 50-day SMA.
• Silver finds support at $32.77 as RSI indicates that bulls are still in control.
• Key resistance at $33.69 must be cleared to target $34.58 and $35.00.
• A daily close below $32.90 could open the path toward 100- and 200-day SMAs.

Silver price falls by 0.70% on Tuesday, yet it has trimmed some of its earlier losses that pushed the grey metal below $33.00, hitting a two-day low of $32.77. At the time of writing, XAG/USD trades at $33.29.

XAG/USD Price Forecast: Technical outlook

Silver price is consolidating within a range for the third consecutive day, capped on the upside by resistance at $33.69, the May 22 peak, and on the downside by the 50-day Simple Moving Average (SMA) at $32.73.

Momentum indicates that buyers are in charge, as depicted by the Relative Strength Index (RSI). However, they must clear $33.69, which could pave the way for a challenge of $34. On further strength, XAG/USD next resistance level would be the March 26 high at $34.58, followed by $35.00.

In the bearish scenario, XAG/USD needs to achieve a daily close below the May 23 swing low of $32.90. In that outcome, the next test would be the 50-day Simple Moving Average (SMA) at $32.73. A decisive break will expose the 100-day SMA at $32.11, followed by the 200-day SMA at $31.40.

XAG/USD Price Chart – Daily

The U.S. dollar index reversed early losses to trade 0.3% higher, directly undermining gold’s appeal for non-dollar buyers. The uptick in the greenback coincided with Trump rolling back his threat of fresh tariffs on the EU. Instead of escalating tensions, he reinstated a July 9 deadline for trade talks, which fueled optimism in equity markets and weakened gold’s haven bid.

Ole Hansen of Saxo Bank noted that gold is under pressure from technical selling, with the metal trading below a descending trendline drawn from the April all-time high. “Reduced haven demand and rising stock markets are weighing on gold,” he said. This backdrop of declining geopolitical stress and a firmer dollar creates immediate resistance at Friday’s high of $3366.02, with downside pivots marked at $3310.48 and $3277.91.

Fed Speeches and Inflation Data Could Set the Next Move

Market focus is now shifting to upcoming speeches from Federal Reserve officials and Friday’s release of core PCE inflation data — a key input for rate decisions. Investors currently expect 47 basis points of rate cuts by year-end, likely beginning in October. A weaker inflation print or dovish commentary could reignite support for gold, as lower rates reduce the opportunity cost of holding non-yielding assets like bullion.

Rhona O’Connell of StoneX emphasized that gold remains in a consolidation phase. “The high is likely in, but uncertainty will keep prices supported,” she noted. Still, the technical structure suggests caution, particularly as price action nears the 50-day moving average.

Gold Prices Forecast: Test of Key Support May Define Bullish Structure

• Silver prices lost ground on a somewhat stronger USD and a mild risk appetite.
• Ongoing concerns about the ballooning US debt might cap US Dollar’s gains.
• XAG/USD is likely to find support at the $32.90-33.00 area.

Silver prices (XAG/USD) are dropping beyond 1% on Monday, weighed by a moderately positive market sentiment and a mild US Dollar recovery. Trump’s de-escalation of the tariff rift with Europe has boosted market sentiment, dampening demand for safe assets like precious metals.

The US president delayed a plan to impose 50% tariffs on all Eurozone imports from June 1 after a phone call with EU Commissioner, Ursula von der Leyen. This has calmed investors’ fears about a severe impact on international trade and on the global economic growth prospects.

US debt concerns might limit the Dollar’s recovery

The US Dollar rebound, however, is likely to face resistance amid the growing concerns about the US fiscal health. Last week’s downgrade of the US debt ratings and the impact of a tax-slashing bill have boosted fears of a debt crisis in the US, which fuelled a “Sell America” trade last week.

Trump’s “big, beautiful tax bill”, which will be discussed by the US senate over the coming weeks, is expected to add $3.8 trillion to a $36,2 trillion debt pile over the next years. This is likely to act as a headwind for the US Dollar and keep Silver dips limited.

XAG/USD might find support at the $32.90-33.00 area

From a technical perspective, XAG/USD is going through a choppy consolidation following April’s rally. The pair has been capped at the range top, 33.70, and is likely to test support at the $32.90 zone.

A break of this level would increase pressure towards the May 20 low, $32.15 ahead of the range bottom, at $31.74. Above $33.70, the next resistances are $34.15 and $34.60.

XAG/USD 4-hour chart

The EURJPY pair provided a new positive close above the support at 161.90, which gets its strength from the stability of the moving average 55, to support the chances for activating the bullish attack again, so the continuation of gathering the positive momentum will allow it to reach the barrier at 163.35, and breaching it will open the way for recording big gains that might extend to 164.00 and 164.80.

While reaching below the current support and providing a negative close, will force it to form sharp bearish waves due to its return to settle within the bearish channel’s levels, to expect suffering several losses that begin at 160.90.

The expected trading range for today is between 162.00 and 163.35

Trend forecast: Bullish

“Gold is caught in a tug-of-war between a weaker dollar, potential Fed easing, and geopolitical risks,” said Kelvin Wong, senior market analyst at OANDA Asia Pacific.

Former President Trump’s decision to delay the imposition of 50% tariffs on European Union imports until July 9 provided short-term relief to market nerves, but the broader trade outlook remains uncertain. The combination of muted dollar strength and cautious Fed guidance is keeping gold prices in check.

Silver Finds Support Near $33.22 but Faces Resistance

Silver (XAG/USD) mirrored gold’s consolidation, trading around $33.50 per ounce. The ongoing uncertainty surrounding U.S. fiscal policy and trade negotiations is a key backdrop.

The Congressional Budget Office projects the federal deficit will expand by $4 trillion over the next decade, driven by proposed tax cuts and spending initiatives. This has raised concerns over longer-term dollar stability, indirectly supporting silver’s price floor.

Investors Eye Key U.S. Data and Fed Signals

Market participants are now focusing on upcoming economic reports for guidance. Tuesday’s Durable Goods Orders and Consumer Confidence Index will provide short-term cues, while Wednesday’s FOMC minutes and Friday’s Personal Consumption Expenditures Price Index are expected to shape expectations for the Fed’s rate path.

As geopolitical tensions persist and economic signals remain mixed, gold and silver prices are likely to stay range-bound, supported by safe-haven demand but constrained by limited bullish momentum.

Platinum price continued forming sideways trading since yesterday, attempting to settle above $1080.00, affected by stochastic contradiction, which attempts to exit the overbought level as appears in the above image.

The price might continue forming sideways trading until gathering the required momentum, to ease the mission of recording extra gains by its rally to $1125.00, reaching the next main target near $1156.00, while facing new negative pressures will force it to delay the bullish rally, which forces it to suffer some losses by reaching $1068.00 and $1058.00 by reaching the suggested extra targets.

The expected trading range for today is between $1080.00 and $ 1125.00

Trend forecast: Bullish

• XAG/USD climbs to $33.47, eyes key resistance at $33.68 and $34.00 amid sustained bullish bias.
• Price action leans bullish; a break above $33.68 may trigger a test of $34.58.
• Support is seen at $32.90, with the 50-day SMA at $32.74 as the next downside target.

Silver price finished Monday’s session with minimal gains as the US Dollar’s (USD) sell-off extended for the beginning of the week, even though financial markets in the United States (US) and the United Kingdom (UK) remained closed for holidays. At the time of writing, XAG/USD trades at $33.47.

XAG/USD Price Forecast: Technical outlook

The grey metal remains consolidating, though slightly tilted to the upside. Stir resistance is seen at $33.68, the April 25 high, but a decisive breach of that level paves the way for testing at $34.00. Once these two levels are cleared, look for a challenge of the March 26 peak of $34.58.

For a bearish scenario, XAG/USD needs to slide below the May 23 swing low of $32.90. This opens the path to challenge the 50-day Simple Moving Average (SMA) at $32.74. A decisive break will expose the 100-day SMA at $32.11, followed by the 200-day SMA at $31.40.

Despite being bullish, the Relative Strength Index (RSI) is flat, indicating sideways price action. However, price action and RSI suggest that further upside is likely.

XAG/USD Price Chart – Daily

XAU/USD Current price: $3,341.79

• Tariffs-related headlines brought near-term relief on Monday.
• The United States will release some interesting figures on Tuesday.
• XAU/USD loses its positive momentum, but a steeper decline is out of the table.

Spot Gold trades firmly above the $3,300 level, marginally down on a daily basis. The mood was generally positive throughout the first half of the day, as speculative interest welcomed tariffs-related news. United States (US) President Trump said on Sunday that 50% levies on European imports would be delayed until July 9, following talks between Trump and European Commission President Ursula von der Leyen.

Most Asian and European indexes closed in the green, reflecting the better mood, although American markets were out on holidays, as the US celebrated Memorial Day. A scarce macroeconomic calendar added to the ongoing quietness across financial markets.

Things will turn a bit more interesting on Tuesday, as the US will release April Durable Goods Orders and May Consumer Confidence, alongside other minor figures. Recent US data showed the economy remains resilient despite concerns about the impact of tariffs on growth and inflation.

XAU/USD short-term technical outlook

The daily chart for the XAU/USD pair shows it has lost its upward momentum, but also that the bearish case has no support. The pair keeps developing above all its moving averages, with a flat 20 Simple Moving Average (SMA) providing support at around $3,288.75. At the same time, technical indicators turned south, with the Momentum indicator heading lower below its 100 level. Still, the pair would need to lose the $3,300 mark to actually discourage buyers and attract additional selling interest.

In the near term, and according to the 4-hour chart, however, bulls retain control. Technical indicators are holding within positive levels, although lacking directional strength. At the same time, the 20 SMA maintains a modest bullish slope above the 100 and 200 SMAs, while providing near term support at around the intraday low i n the $3,320 region.

Support levels: 3,322.35 3.208.65 3,288.75

Resistance levels: 3,351.70 3,365.80 3,381.20

Platinum price reached the initial extra target at $1100.00, to begin providing sideways trading, due to its neediness to the positive momentum by the stochastic attempt to exit the overbought level.

The suggested scenario depends on the stability of $1080.00 level, which represents the extra support, the stability of the support will increase the chances for renewing the bullish attempts, which might target $1125.00 level, while reaching below this support will increase the chances for renewing the bullish attempts, targeting $1125.00, while reaching below the support will delay the bullish rally, and there is a chance for forming correctional trading, which might target $1068.00 and $1060.00 level.

The expected trading range for today is between $1080.00 and $1125.00

Trend forecast: Bullish