Gold, Silver, Platinum Forecasts – Dollar Weakness and Risk-Off Mood Lift Metals

Gold Prices Forecast: Bullish Momentum Builds as Dollar Weakens and Safe-Haven Demand Rises

Gold prices climbed 0.9% to $3,231 an ounce on Monday, rebounding from last week’s decline, as a weaker U.S. dollar and rising geopolitical tensions renewed safe-haven demand. Technicals show gold holding above its 50-day moving average near $3,169, with traders closely watching the $3,238 level as a breakout trigger. A decisive move above this resistance could open the path toward $3,277 and $3,310, with extended upside targets at $3,435 and $3,500.

The upward move comes in response to a fresh downgrade of U.S. sovereign credit by Moody’s, citing long-term fiscal imbalances. That news, along with rising Treasury yields—10-year hitting 4.51% and the 30-year surpassing 5%—sparked risk-off sentiment across markets. Despite rising yields, the dollar index (.DXY) fell 0.5%, supporting gold’s rally. The RSI indicator on the gold chart is currently neutral near 49.2, but the rebound off the 50-day MA signals buyers are defending key support.

Silver Prices Projections: Stuck in Range But Dollar Weakness Offers Support

Silver posted modest gains of 0.27% to $32.39, lagging gold and platinum, though still benefiting from broad-based dollar softness. Technically, silver is consolidating just below resistance near $32.75 and holding support at $32.00. RSI near 48.1 reflects neutral momentum, with no clear breakout yet.

Still, silver remains underpinned by expectations for future Fed easing. Despite some pullback in rate cut pricing—now at 52 bps for 2025, down from over 100 bps—a softer inflation outlook and weak retail sales have reinforced the potential for monetary support.

Platinum Price Outlook: Bulls Eye Breakout as Dollar Declines

Platinum rose 1.69% to $994 on Monday, tracking gold higher as dollar weakness enhanced the metal’s appeal. Prices pushed closer to resistance at $1,010.83 after rebounding off the 50-day SMA at $966.10. The RSI at 58.4 suggests bullish momentum is gaining traction.

Traders are also reacting to growing trade uncertainty. U.S. Treasury Secretary Bessent confirmed potential new tariffs targeting countries not engaging in “good faith” negotiations. This policy volatility has driven investors into hard assets, boosting interest in platinum alongside gold.

More Information in our Economic Calendar.