Precious Metals Market

The price of gold may attempt to further retrace the decline from the December high ($2726) as it extends the series of higher highs and lows from the start of the week.

While I suspect gold is in for another good year, the gains seen so far in January wreak of a false initial move to my eyes. And with NFP potentially knocking out decent figures, I’m on the hunt for a swing high.

Gold prices are poised to breakout of a multi-month consolidation formation with NFPs on tap Friday. Battle lines drawn on the XAU/USD short-term technical charts.

GBPUSD, Gold Forecast: The British pound is struggling against a strong U.S. dollar, holding onto key 2024 support levels, while gold is forming a triangle pattern, leaving markets on edge for a decisive breakout. Non-Farm Payrolls (NFP) on Friday add further volatility risks.

Commodity currencies continued to feel the heat of the Trump trade, while asset managers stepped away from stocks in a month usually associated with strong gains. Gold seems likely to remain supported in the current environment, but for now we seem to be in a holding pattern waiting for fresh catalysts to kick off 2025.

After a blistering bullish trend held for the bulk of last year in gold, prices have been consolidating for more than the past two months, which can be construed as a bull pennant.

While last year it lagged gold in reaching new record highs due to economic concerns in China, silver’s long-term prospects appear promising. The question remains: can silver climb to $35 or higher this year? Here’s an in-depth look at the factors shaping the silver forecast.

The metal’s struggles highlight growing expectations that the US Federal Reserve will maintain a more hawkish tone in its upcoming decision. The near-term gold forecast is starting to tilt to the downside ever so slightly.

Not only are traders increasingly long the US dollar, they are also piling into short EUR/USD bets. And that could pave the way for a sub-parity euro next year.

Gold consolidation continues. The metal rallied all the way up to the 2721 resistance and even set a fresh monthly high. But that’s when the rally stopped, and bears jumped back in.

There's nothing quite like a volatile whipsaw to snap traders out of a lull, and that is exactly what we saw on gold and silver prices on Thursday, during a day of heavy losses. While I suspect price action to remain choppy, I also think they'll grind lower from here.

Gold continues to hold below pre-US election prices as it gives back the advance from the start of the week.

Crude Oil, Gold Forecast: Following China’s commitment to a moderately loose monetary policy in 2025, demand sentiment for Chinese oil and gold has surged, pushing crude oil above $70 and gold above $2,700. Middle East tensions continue to reinforce support levels for these commodities as drastic regional developments unfold.

Gold is testing critical resistance, silver continues to climb after breaking its downtrend, and bitcoin consolidates before another potential surge. With technical and momentum signals aligning, could the stage be set for a decisive breakout across these assets?

Gold bulls have pressed the trend over the past week and a big spot sits overhead, plotted $100 above last week’s range support.

The price of gold pushes above the opening range for December as it carves a series of higher highs and lows.