Gold Price Forecast: Prices Targeting $4,000 in July Before Bottoming

Our Gold Cycle Indicator is at 100 nearing cycle bottoming.

Gold

Gold is attracting some technical buying at the 200-day moving average, and we could see a rebound toward $4,700 into early June. A similar pattern developed in 2006, when prices briefly bounced before breaking decisively below the 200-day MA.

For a potential bottom to gain credibility, gold would need to close progressively above the May pivot at $4,773. Otherwise, I continue to expect a test of the target zone into mid-year.

Silver

Silver could rebound if gold rallies back toward $4,700. Otherwise, I’m still looking for progressive closes below the short-term trendline to confirm a breakdown toward the mid-year target zone.

Platinum

Platinum found support and bounced near the 200-day moving average, but I’m still expecting one final dip into mid-year.

GDX

Miners formed a bullish engulfing candle at the 200-day MA. The 50-day EMA and the price gap near $94.00 should act as resistance if prices bounce into early June.

GDXJ

Juniors could see a brief rebound, but I would need to see progressive closes above the $126 price gap to support a potential bottom.

SILJ

Silver juniors need to clear the gap at $33 to support more upside. Otherwise, I continue to expect prices to dip below the 200-day MA into mid-year.

BTC/USD

Bitcoin closed progressively below the 50-day EMA, supporting the beginning of the next downleg. Progressive closes below the trendline near $71,000 would confirm a bearish breakdown, supporting my outlook for fresh lows in June and a final bottom around $40,000 in October.

Final Thoughts

Metals and mining stocks are consolidating after explosive gains in 2025, which is a normal part of a strong bull market. Our work suggests one final dip into July before the broader uptrends resume. Gold and silver miners likely offer the best upside potential throughout the remainder of the bull market, which we expect to continue into 2030.

AG Thorson is a registered CMT and an expert in technical analysis. For more price predictions and daily market commentary, consider subscribing at www.GoldPredict.com.