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

• Silver price stays silent as safe-haven demand dampens after Trump extended the 50% tariff deadline on EU imports.
• The safe-haven Silver may regain its ground amid rising concerns over the US economy.
• Silver attracted buyers after Moody’s downgraded the US credit rating from Aaa to Aa1.

Silver price (XAG/USD) remains steady after registering more than 1% gains in the previous session, trading around $33.40 per troy ounce during the European hours on Monday. Safe-haven demand for precious metals, including Silver, weakened due to easing trade war between the United States (US) and the European Union (EU).

The risk sentiment improves US President Donald Trump extended the tariff deadline on the European Union (EU) from June 1 to July 9. Trump stepped back after threatening to impose a 50% tariff on imports from the European Union.

However, the downside of the Silver price could be limited as the safe-haven demand would strengthen amid growing uncertainty surrounding the US economy. US fiscal deficit could increase further when Trump’s “One Big Beautiful Bill” passes on Senate floor.

On Sunday, US Senator Ron Johnson said in an interview on CNN, “I think we have enough votes to stop the process until the President gets serious about spending reduction and reducing the deficit.” “My primary focus now is spending. This is completely unacceptable. Current projections are a $2.2 trillion per year deficit,” Johnson added.

Moreover, Silver attracted buyers after Moody’s downgraded the US credit rating from Aaa to Aa1. Moody’s now projects US federal debt to climb to around 134% of GDP by 2035, up from 98% in 2023, with the budget deficit expected to widen to nearly 9% of GDP.

Chicago Federal Reserve (Fed) President Austan Goolsbee noted on Friday that adjustments in the Fed’s interest rates are likely to be delayed due to Trump’s latest tariff threats. Meanwhile, Kansas City Fed President Jeffrey Schmid said that policymakers will gauge hard data before deciding on interest rate decisions, and the Fed needs to be careful how much emphasis it puts on soft data.

Trump Tariff Delay Takes Pressure Off—For Now

Trump’s decision to extend the deadline for 50% tariffs on EU goods to July 9 briefly reduced geopolitical tension. Over the weekend, the U.S. President said he agreed to an extension after a phone call with European Commission President Ursula von der Leyen, calling it a “privilege” to accommodate ongoing trade talks. This move countered last week’s aggressive rhetoric, when Trump threatened a “straight 50% tariff” and floated a 25% levy on Apple iPhones made outside the U.S.

Dollar Slips, While Gold Consolidates Above Key Levels

Despite Monday’s softness, gold remains well bid above key support at $3,166.46 and $3,018.52. Last week, gold posted its strongest weekly performance in six weeks, rising 4.8% to $3,358.13. A drop in the U.S. dollar index—down 1.5% for the week—reflected intensifying concerns about the U.S. fiscal position. Traders continue to rotate out of dollar-denominated assets, with net short positions swelling to $17.3 billion.

U.S. Fiscal Stress Fuels Demand for Safe-Haven Assets

Market anxiety over ballooning U.S. deficits intensified after Moody’s downgraded U.S. sovereign credit and the House passed Trump’s tax-heavy spending bill. The CBO projects this could swell the deficit by nearly $4 trillion. Long-end yields surged, with the 30-year Treasury yield hitting 5.14%, raising fears of debt monetization and inflation. As a result, gold gained favor over traditional U.S. assets.

China Gold Imports Surge as Global Buying Picks Up

China’s net gold imports via Hong Kong more than doubled in April, reaching the highest levels since March. This uptick in physical demand underscores global investor interest in gold as a hedge against both policy risk and currency depreciation.

Gold Prices Forecast: Still Bullish Above $3,310

The GBPJPY pair began today’s trading with clear positivity, getting advantage of the unionism of the main indicators for providing positive momentum, to notice achieving some gains by its current stability above the obstacle at 193.30 level.

Therefore, forming extra support at 192.50 level makes us keep the bullish suggestion, reminding you that the extra targets is located near 194.60 level reaching 23.6%Fibonacci correction level at 195.65.

The expected trading range for today is between 192.60 and 194.60

Trend forecast: Bullish

The (USDJPY) price witnessed fluctuated trading in the intraday levels, rising temporarily affected by the stability of the key support level at 142.40, gaining positive momentum to attempt to recover some of its previous losses, at the same time it attempts to offload some of its clear oversold condition on the (RSI), especially with the beginning pf positive overlapping signals, it seems that the sellers is the dominant on the price move, it bounced quickly preparing for breaking this key support, amid its trading alongside a minor bearish trend on the short-term basis.