Gold (XAUUSD) & Silver Price Forecast: $4,300 and $54 Targets in Sight Amid Fed Easing

Market Overview

Gold extended its gains in early Thursday trading, buoyed by renewed expectations of U.S. interest rate cuts and rising global trade frictions. Investors are increasingly positioning toward safe-haven assets as confidence in the Federal Reserve’s policy outlook weakens. Markets now anticipate two additional rate cuts this year, one in October and another in December, followed by three more in 2026, according to data from LSEG.

Fed Chair Jerome Powell recently acknowledged that a slowdown in the labor market poses a growing risk to the U.S. economy. His comments, echoed by other Fed officials, have led traders to expect an extended easing cycle. Lower borrowing costs typically weaken the dollar and bond yields, improving the relative attractiveness of non-yielding assets like gold and silver.

“Rate cuts are no longer a question of if, but when,” said one commodities strategist at a Hong Kong-based brokerage. “This environment keeps demand for safe-haven metals firmly supported.”

Trade Strains Underscore Risk Aversion

The precious metals rally is also being underpinned by heightened trade tensions between the world’s two largest economies. Both the U.S. and China are preparing to impose additional port fees on cargo shipments, a move expected to increase logistics costs and disrupt global trade flows.

Analysts note that persistent trade uncertainty continues to dampen sentiment in equity and commodity markets, pushing investors toward defensive assets. “Even minor disruptions in trade routes are enough to unsettle markets already wary of slowing growth,” said a senior analyst at Refinitiv.

Silver Tracks Gold’s Momentum

Silver followed gold’s advance, drawing support from its dual role as an industrial and safe-haven asset. Demand for silver remains underpinned by expectations of lower U.S. yields and its strategic use in renewable energy technologies, particularly solar manufacturing.

While near-term price movements hinge on forthcoming remarks from Fed officials, broader fundamentals suggest continued investor preference for tangible assets. Any dovish tone from policymakers could further reinforce demand for gold and silver, while a stronger dollar or firmer Treasury yields may prompt short-term profit-taking.

In the current macro environment, bullion remains a favored hedge against uncertainty, inflation risks, and potential monetary easing.

Short-Term Forecast

Gold is expected to trade between $4,200 and $4,270, with momentum favoring further upside if support at $4,203 holds. Silver may rise toward $54.30 while maintaining support above $52.30.

Gold Prices Forecast: Technical Analysis

Gold (XAU/USD) continues to trade firmly within its ascending channel, holding near $4,228 after rebounding from support at $4,203. The uptrend remains intact, supported by the 50-EMA at $4,178, which has acted as a dynamic floor for recent pullbacks.

On the upside, resistance is seen at $4,242 and $4,270, marking the upper boundary of the channel. The RSI at 60 suggests moderate bullish momentum, with room for further upside before overbought conditions emerge.

A sustained close above $4,242 could drive prices toward $4,305, while a break below $4,203 may trigger a short-term pullback toward $4,170. Overall, gold maintains a bullish bias as long as prices stay above the lower trendline support.

Silver (XAG/USD) Price Forecast: Technical Outlook

Silver (XAG/USD) is consolidating near $52.82 after testing resistance around $53.36. The metal remains in a steady uptrend, supported by the ascending trendline and the 50-EMA near $52.41. As long as prices stay above this dynamic support, the broader bias remains constructive.

The RSI at 51 suggests balanced momentum, leaving room for a potential move in either direction. A close above $53.36 could trigger a push toward $54.32, while a drop below $52.36 would expose the next support at $51.46.