Extremely Strong Rises In Gold And Silver

(MENAFN- Daily Forex)

• Gold and Silver are both performing very strongly, so traders can be confident going long of either.
• Gold and Silver are each breaking to new record highs, and each overcoming major psychological round number levels ($5,000 for Gold, $100 for Silver).
• The best new trade opportunities which might set up today will likely be a long trade in Gold just below $5,000 or in Silver following a breakout to a new high or a bounce at $106.31.

Gold (XAU/USD): Technical Analysis

The price chart below shows that Gold is well established within a long-term bullish trend. It is not just a trend, but an incredible rise in value. Gold is up by more than 16% year to date and rose by 65% in 2025. Bulls can be excited and optimistic for several reasons:

• The price has reached a new all-time high yet again and is trading in blue sky, so has no obvious resistance levels to stop it except the high.
• Gold easily overcame the big round number at $5,000 earlier today and has even exceeded $5,100.
• Precious metals as an asset class are generally very bullish.
• At the time of writing, the short-term price action looks bullish.

After reaching a record high of $5,111.51 just a few hours ago, the price made a minor bearish retracement, but it is now rising again and is just a few Dollars off this high.

Traders should consider entering a speculative long trade if the price gets established later today above $5,111.51, which can usually be measured by two consecutive higher hourly closes above that level, without the second hourly candlestick having a significant upper wick.

Key Support Levels:

• $4,990.13
• $4,961.38

Key Resistance Levels:

• $5,111.51

Silver (XAG/USD): Technical Analysis

In recent hours, days, and months, we have seen an incredibly strong trend in Silver. There are several reasons to be bullish:

• The price is breaking out to a new all-time high as I type these words.
• Precious metals as an asset class are generally bullish, with both Gold and Silver making very strong gains.
• Silver easily overcame the big round number at $100, and is now almost 10% higher than that, with the price up by about 5% just today alone.

A few hours ago, the price made a relatively shallow retracement from the high, but the bullish price action has pushed the price to a new bullish breakout above $109.

Traders can consider entering a long trade upon any breakout to a new record high. However, it is important to keep in mind we are seeing extremely high volatility. A drop in price of 10% within a few hours is quite possible.

Traders who prefer to buy at bounces on support after dips could try to enter if we get a retracement to $106.31 and a bullish bounce there.

Key Support Levels:

• $106.31
• $103.40
• $99.13

Ready to trade our precious metal price forecast? Check out our list of the best Gold brokers and the best Silver brokers worth trading with.

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