Gold Price Outlook – Final Drop Before the Uptrend Resumes

Gold

Gold continues to follow the 2006 parallel, supporting a potential low around $4,000 in July. Once this phase is complete, prices are expected to resume their uptrend, likely targeting $7,500 sometime next year.

Our longer-term analysis suggests we have approximately five years remaining in this bull market, with the potential for gold to reach $14,000 by 2031.

Silver

Silver is tracking gold toward a mid-year low, likely to bottom in July. Sustained closes below $70.00 could trigger the final leg down, potentially reaching around $55.00. Our analysis supports a breakout above $120 next year, with the potential to reach $300 to $500 by 2031.

Platinum

Platinum is slipping below its 200-day moving average, and we anticipate prices will close the gap near $1,600 before establishing a low in July.

We believe platinum may offer greater upside potential than gold throughout the remainder of this bull market.

GDX

Miners are finally breaking down from their 200-day moving average and are likely to enter our target zone next week. On the downside, we see prices going as low as $72.00 before establishing a low in July.

GDXJ

Junior miners are breaking lower and could test the March low at any time. Ultimately, we expect prices to bottom in July, with a maximum downside target near $90.00.

SILJ

Silver juniors are testing their 200-day moving average. A continued breakdown is likely, and we continue to expect prices to bottom within our mid-year low target zone.

Bitcoin

The multi-month rebound in Bitcoin ended at the 200-day moving average, consistent with prior bear market behavior. Historically, after testing the 200-day, prices have fallen an additional 60% before ultimately bottoming. We have been forecasting a test of $40,000, but there is a real chance we could see $33,000 or lower before crypto winter ends.

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 2031.

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.