Silver could remain more volatile than gold since it responds to safe-haven and industrial drivers. If inflation driven by oil prices dampens economic growth and hampers central banks, silver may be more vulnerable in the near term than gold. But the long term structure for both precious metals is supported by geopolitical tensions, tariffs, trade uncertainty and market volatility. So, gold and silver may remain vulnerable in the short term, but the long-term bullish outlook can remain if uncertainty persists.
Gold Technical Analysis: Bullish Structure Despite Near-Term Pullback
From a technical perspective, gold prices failed to break above the 50-day SMA at $4,800. After this failed attempt, the price dropped slowly toward the support of the ascending broadening wedge.
The immediate support remains in the $4,400 to $4,500 range. A break below this zone will trigger a drop toward the 200-day SMA at $4,270. RSI remains below the midline and continues to decline, which indicates further weakness in the short term.
