Gold, Silver, Platinum Forecasts – Breakouts Signal Fresh Upside as Geopolitical Risks Persist

Gold Prices Firm as Dollar Sinks and Risk Demand Fades

Gold ralliedon Tuesday, gaining over 1.5% to trade above $3,280 as the U.S. dollar extended its decline. The DXY index fell toward the critical 100.21 support level, pressured by Moody’s U.S. credit downgrade and dovish Federal Reserve commentary. This softer greenback is helping drive bullish momentum in the precious metals complex, with gold benefiting from its safe-haven appeal amid ongoing geopolitical risks and uncertainty over future U.S. tariff policy.

Technically, spot gold is pushing back toward the $3,280 resistance zone. The price bounced strongly off the 50-day SMA at $3,176 and now trades just below a ceiling near $3,300. The bullish engulfing candle on the daily chart confirms buyer control. If price clears $3,300 with conviction, the next leg could target April highs near $3,450.

Gold remains in a long-term uptrend, supported by fundamental tailwinds and risk-off flows. While some analysts see a medium-term range between $3,000 and $3,500, current price action leans bullish.

Gold prices forecast: Bullish bias above $3,200, with upside targets at $3,350 and $3,450.

Silver Approaches Resistance as Momentum Builds

Silver surged nearly 2% to $32.98 on Tuesday, echoing gold’s strength as dollar weakness intensified. The metal tracked closely with the broader precious metals complex, bolstered by softer U.S. economic expectations and geopolitical uncertainties. Investor appetite for hard assets remains elevated amid signs of prolonged fiscal pressure on the U.S. government.

On the chart, silver is attempting to break above a stubborn resistance zone between $33.00 and $33.20. Price is now decisively above the 50-day SMA at $32.77, with a daily close above $33.20 likely to open the door for a move toward the March high near $34.80. A rejection here would keep price range-bound, with interim support near $31.50.

Silver’s structure remains constructive as long as price holds above $31.50. Momentum indicators are supportive, and a breakout above $33.20 would be technically significant.

Silver prices projection: Bullish breakout potential above $33.20, with room to rally toward $34.80.

Platinum Breaks Out as Supply Fears Reignite

Platinum posted a sharp 4.8% gain on Tuesday, closing at $1,042 and clearing a key resistance zone near $1,010. The move follows renewed supply concerns tied to the ongoing Russia-Ukraine conflict, as the EU and UK imposed new sanctions on Moscow. Russia is a major producer of platinum and palladium, and prolonged geopolitical tensions are raising fears of tighter supply.

From a technical standpoint, platinum broke decisively above the $1,010 resistance area, with the 50-day SMA at $967 now well below. The next resistance sits near $1,060, with a breakout likely to attract further upside momentum. The volume on the breakout was strong, indicating conviction behind the move.

This fresh bullish breakout could mark the start of a new leg higher, especially if geopolitical risks remain elevated and industrial demand stays firm.

Platinum price outlook: Bullish continuation above $1,010, with near-term upside toward $1,060 and $1,100.

More Information in our Economic Calendar.