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
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Silver price appreciates as safe-haven demand counterbalances commodities’ concerns.
Trump’s “One Big Beautiful Bill” passed the US House of Representatives and is now headed to the Senate floor.
US debt and tariff concerns undermined the Silver demand in the photovoltaic industry.
Silver price (XAG/USD) edges higher after registering losses over 1% in the previous session, hovering around $33.10 per troy ounce during the Asian trading hours on Friday. The manufacturing-sensitive commodities, including Silver, faced challenges due to growing concerns regarding the increase in the fiscal deficit in the United States (US). However, rising safe-haven demand over these fiscal concerns could offset the demand-related threat surrounding such commodities.
On Thursday, US President Donald Trump’s “One Big Beautiful Bill” passed the US House of Representatives and is on its way to the Senate floor. The US House of Representatives approved Trump’s budget by one vote. The proposal is expected to increase the deficit by $3.8 billion, as it would deliver tax breaks on tip income and US-manufactured car loans, according to the Congressional Budget Office (CBO).
Silver attracts sellers as uncertain US economic conditions, along with tariff concerns, undermine strong momentum for the photovoltaic industry. Silver is used in various industrial applications, such as electronics, solar panels, and automotive components.
In the first quarter of 2025, China’s wind and solar capacity rose to nearly 1,500 GW due to a 60GW jump in photovoltaic power. Given China’s status as one of the world’s largest manufacturing hubs, the country’s industrial demand for Silver is significant. Moreover, solar power output in Europe also surged by 30% annually in the first quarter.
Moody’s downgraded the US credit rating from Aaa to Aa1 and predicted that US federal debt is expected 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. This deterioration is attributed to rising debt-servicing costs, expanding entitlement programs, and falling tax revenues.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Gold price edges lower to $3,335 in Monday’s Asian session.
Trump set a July 9 deadline for a trade deal with the European Union.
Renewed inflation concerns and recession fears might help limit the Gold’s losses.
The Gold price (XAU/USD) attracts some sellers to near $3,335 during the early Asian session on Monday. The de-escalation of the trade war provides some support to the yellow metal. The FOMC Minute will be the highlight later on Wednesday.
On Sunday, US President Donald Trump said that he agreed to an extension on the tariff deadline on the European Union (EU) until July 9, rescinding his threat of a 50% tariff from June 1. The easing fears of a global trade war drag the precious metal lower.
However, traders will closely monitor the developments surrounding US-Japan trade deals and other major economies’ trade deals for fresh impetus. Any signs of escalating trade tensions could boost the safe-haven flows, benefitting the precious metal.
Renewed inflation concerns and a US credit rating downgrade boost could underpin the Gold price. Moody’s downgraded the US long-held ‘Aaa’ credit rating to ‘Aa1.’ The downgrade added fuel to a weakening US Dollar (USD) and lifted the USD-denominated Gold price.
Jigar Trivedi, Senior Research Analyst at Reliance Securities, expects the rise in gold prices to continue into the month of June 2025. Trivedi emphasized key drivers like the US credit downgrade, continued Chinese central bank gold purchases, and trade tensions.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Copper price began today’s trading with a new positivity by surpassing the barrier at $4.6600, announcing its readiness to activate the bullish track in the current period, the unionism of providing positive momentum by the main indicators will reinforce the chances for achieving several gains, to reach the initial target at $4.7500, to press on 61.8% Fibonacci correction level at $4.8100.
Note that activating the negative track requires forming a sharp decline, to settle below $4.5000 level, to confirm targeting several negative stations that begin at $4.4300 and $4.3100.
The expected trading range for today is between $4.6100 and $4.7500
Trend forecast: Bullish
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The natural gas market has dropped a bit, a little bit, during the very early hours on Friday, as we continue to see the cyclical trade come into the picture. After all, heating is a major driver of where natural gas goes, as far as price is concerned. And now that there’s not as much need for heat, it makes sense that natural gas in fact drops in value. We are not quite to the time of year when we see the demand for AC pick up, at least not for a few months. So really, we’re in that quiet period where we get the initial bounce, from refilling storage in the US. And now that it’s done, you see the market dropping again, as the demand simply cannot keep up.
At this point, it’s likely that the market is going to go to the $3 level, possibly even $2.83, where we bounced from the last drop. At this point though, I think any rally that shows signs of exhaustion is a selling opportunity, and I’d be a bit surprised to see us break back above the 50-day EMA. If we were to drop below that crucial $2.83 level, then I think that opens up the trapdoor and we could go as low as $2.50 rather quickly. I have no interest in buying natural gas. I simply fade it this time of year, every time it gets a little bit of a pop. This is a very bearish market and should continue to be going forward.
Silver price oscillates inside Thursday’s range around $33.00 despite significant weakness in the US Dollar.
Heightened concerns over US fiscal imbalances have kept the US Dollar on the backfoot.
A fresh escalation in the US-EU trade tensions is expected to support the Silver price.
Silver price (XAG/USD) wobbles in a tight range around $33.00 during North American trading hours on Friday. The white metal remains almost flat despite a substantial weakness in the US Dollar (USD). The US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, refreshes an over three-week low around 99.10.
Technically, a lower US Dollar makes the Silver price a value bet for investors.
The US Dollar continues to suffer from increasing concerns over the United States (US) fiscal imbalances in the wake of President Donald Trump’s tax-cut and spending bill, which has been advanced to the Senate after being approved by the House of Representatives.
According to the nonpartisan Congressional Budget Office, Trump’s new bill would increase the US debt by $3.8 trillion over the decade, which is currently $36.2 trillion. Such a scenario would further damage the US Sovereign credit rating, which was already downgraded by Moody’s to Aa1 from Aaa last week.
Meanwhile, a fresh escalation in trade tensions between the US and the European Union (EU) is expected to support the Silver price. Theoretically, the demand for safe-haven assets, such as Silver, increases when global economic tensions escalate.
Silver price oscillates inside Thursday’s trading range around $33.00 on Friday. The white metal trades in a range between $31.65 and $33.70 for a month. The near-term trend of the white metal is uncertain as it wobbles around the 20-period Exponential Moving Average (EMA), which trades near $32.75.
The 14-period Relative Strength Index (RSI) oscillates inside the 40.00-60.00 range, indicating a sideways trend.
Looking up, the March 28 high of $34.60 will act as key resistance for the metal. On the downside, the April 11 low of $30.90 will be the key support zone.
Silver daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
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Copper price began today’s trading with a new positivity by surpassing the barrier at $4.6600, announcing its readiness to activate the bullish track in the current period, the unionism of providing positive momentum by the main indicators will reinforce the chances for achieving several gains, to reach the initial target at $4.7500, to press on 61.8% Fibonacci correction level at $4.8100.
Note that activating the negative track requires forming a sharp decline, to settle below $4.5000 level, to confirm targeting several negative stations that begin at $4.4300 and $4.3100.
The expected trading range for today is between $4.6100 and $4.7500
Trend forecast: Bullish
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The GBPJPY pair succeeded to surpass the negative pressures after facing the moving average 55, which formed extra support at 192.10, forming some bullish waves and its stability near 193.30 to increase the chances for activating the previously waited bullish attack.
By the above image, we notice stochastic rally above 20 level, to reinforce the chances for gaining the positive momentum, to keep our bullish expectations to target 194.60 level.
The expected trading range for today is between 192.60 and 194.60
Trend forecast: Bullish
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If the 20-Day line can continue to show as support, then gold may have a chance to go a little higher towards the next target around the 78.6% Fibonacci retracement at $3,371. Since that price level is currently aligned with the convergence of two trendlines, there remains a possibility that it is touched before the current advance from trendline support reached last week is complete. Moreover, the convergence suggests a key pivot level where an upside-breakout could be followed by a move as demand kicks in.
Advance Stalls
A decline below today’s low shows short-term weakness and could lead to a test of support around $3,252. Further down is the 50-Day MA, now at $3,191. Along with the lower trendline the 50-Day MA marks potential dynamic support for the uptrend. The current upswing began following the November 2024 lows following a failed upside breakout of a rising trend channel (blue) on April 11. It reestablishes the integrity of the trend and therefore the possibility of a continuation higher. Subsequently, as long as gold trades above the 50-Day MA, the market is indicating it is prepared to go higher. Also, since the 20-Day MA is being recognized, it provides a shorter-term indicator for strength or weakness.
Weekly Closing Will Provide Clue
It is interesting to note that the two previous weekly upside breakouts failed, and each week ended with the price of gold below the prior week’s high. In other words, the weekly breakouts were not confirmed. A third weekly breakout occurred this week. The breakout will be confirmed by a weekly closing price above last week’s high of $3,292. One way to think about it is if the breakout confirms the chance of at least reaching the $3,371 price area improves. If this week ends below last week’s high, consolidation within the declining channel may prevail.
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