Gold and Silver Price Forecast: XAUUSD Eyes $4,500 as XAGUSD Targets $72

Gold (XAU) and silver (XAG) rose on Monday as the U.S. and Iran agreed to a preliminary peace deal. The deal lifted concerns about the Strait of Hormuz and drove down oil prices. WTI oil dropped to $80.60, and Brent oil dropped to $88.60. This helped to ease inflation worries and dampen interest rate prospects. This move was a boost for gold as lower rate expectations reduce the opportunity cost of holding the metal.

The negative price action in the US dollar also boosted the sentiment in gold and silver prices. The chart below shows that the US dollar index dropped to 99.42 at the neckline of the double bottom pattern. A break below 99.42 will likely push the US dollar index lower. But a break above 100.50 will push the US dollar higher.

Silver gains higher than gold as the gold-to-silver ratio dropped to 61.30. The shift in gold and silver also reflects a return of investors’ interest in long-term support of precious metals. The lower oil prices can help ease concerns about inflation. But the fiscal risks, currency risks and geopolitical uncertainty remain. This maintains the overall bullish outlook for gold and silver. But the next step will depend on whether the peace deal holds and whether oil prices continue to drop.

Gold Price Forecast: $4,500 Break Opens Path to $5,000

XAUUSD Daily Chart: Gold Rebounds from $4,000 Buy Zone

The daily chart for spot gold shows that the price reversed from the key buy zone around $4,000 and moved toward the 200-day SMA. This target was defined by the symmetrical triangle pattern after the breakout at $4,500 on May 18, 2026. A recovery above the 200-day SMA will likely indicate strong rally in the gold market.

The importance of the $4,000 area is also observed on the weekly chart. The chart shows the ascending trend line stretching from the October 2023 lows. This trend line has been hit for the first time since December 2024.

This suggests a strong rally in the gold market from this area is likely. The immediate resistance now remains at $4,500 and a break above this area will likely push the gold price toward $5,000. As long as the gold price remains above $4,000, it will likely push higher during the next few weeks.

XAUUSD 4-Hour Chart: $4,350 Break Could Trigger Move to $4,500

The 4-hour chart for spot gold also shows a strong rebound from the strong support level at $4,000, as discussed in the previous article. Now, the price is approaching the red zone around $4,350. A break above this zone will likely push the price toward $4,500. This level remains the key level in the gold market in the short term.

Silver Price Forecast: $72 Breakout Could Target $80

XAGUSD Daily: Silver Bounces from $60 Primary Buy Zone

The daily chart for spot silver shows that the price rebounded from the target of $60. This is the primary buy zone, as described in the chart below. I have previously discussed that the red highlighted zone in the chart remains the major accumulation zone, while the $55 to $60 region remains the primary buy zone.

Therefore, the emergence of a bullish hammer candle from this buy zone indicates an immediate move toward the $72 area. However, if the price closes above $72, it will likely push the silver price toward the $80 region. The price strength around this area indicates a continued rally in the silver market.

XAGUSD 4-Hour: $70–$72 Resistance Controls Next Move

The strong support of $60 in spot silver is also evident on the 4-hour chart, which shows strong resistance around the $70 to $72 level. A break above $70 to $72 will likely push the silver price toward $78.60.

Overall, the silver price remains in a consolidation zone between $90 and $60. A break of either of these levels will define the next move in the silver market.

Bottom Line

Gold and silver remain supported after the rebound from key support levels of $4,000 and $60, respectively. The peace deal between the U.S. and Iran has reduced oil-driven inflation fears and weakened the U.S. dollar. This has improved the sentiment across precious metals. The immediate resistance in the spot gold price is $4,500 and in spot silver is $72. A break above $4,500 will push the gold to $5000, while a break above $72 in spot silver will push the silver to $80. On the other hand, a break below $4,000 will negate the short-term bullish outlook. But traders should keep their eye on the peace deal, oil prices and the U.S. dollar as they will play a large role in the next big move of gold and silver.

Read more: Gold Bulls Defend $4,000 as PPI Inflation Risks Rise