Gold (XAUUSD) & Silver Price Forecast: Gold Breaks $4,500 as Silver Slips to $73 — Support or More Pain?

Gold and Silver Consolidate as Inflation Data and Ceasefire Stability Shape Outlook

Prices of silver and gold lacked direction on Thursday, June 4, 2026, as buyers digested April’s unexpectedly high US inflation data and continued to weigh the longevity of a provisional US-Iran ceasefire. Headline and core numbers from the consumer prices index (CPI) reading came in higher than expected. That has pushed back expectations for the Federal Reserve’s next rate cut by Fed Chair Kevin Warsh in the near term. Higher real yields and the US dollar have also capped upside in the precious metals.

Gold buyers may also rely on official-sector purchases to support prices as the war premium fades. The People’s Bank of China’s purchasing streak now stands well beyond 17 months, and many other central banks from developing economies have also been accumulating gold in recent months.

Silver is being supported by supply deficits while safe haven flows are moderating because of the ceasefire and oil flows are gradually normalizing. Strong demand for the white metal in solar, transport, and electronic technology continues to sustain silver. That is even with reduced energy prices dampening silver demand as an inflation hedge. In addition, more Fed statements and other economic data releases will soon take center stage

Gold Spot Drops to $4,472 as Blue Descending Channel Reversed Lower on 2h

Gold Spot is trading around $4,472 on the 2-hour chart. Price red candles broke below the blue descending channel floor around $4,500 as well as the red 50 MA at $4,526. Bearish price bodies created obvious lower lows with very strong selling pressure wicks from the $4,535 near top. Gold Spot is now moving sharply towards the $4,460 to $4,436 Fib extension level.

RSI is under 45 confirming weakening momentum without a bounce back from over sold territory. On volume profile, the $4,500 to $4,526 level was shown as an invalid fair value zone for bulls and a zone for which sellers have full control. A white descending trendline from earlier top levels at $4,576 still acts as resistance against any upward momentum.

The general bias is clearly bearish below $4,500 inside the prolonged downward channel structure from May peaks. Resistance on a higher time frame remains at a level of $4,595 for the pivot. A very straightforward pattern of lower tops as well as lower bottoms drives this price action.

Trade idea: Sell $4,472 for $4,436 with stop $4,500.

Silver Spot Reaches $73.34 as Red MA Pushdown Accelerated Downtrend on 2h

Silver Spot trades at $73.34 on the 2-hour chart. Silver Spot price red candles were stopped by the red 50 MA at $75.80 as well as the blue descending trendline at resistance. Price bearish wicks made fresh lower tops starting around the $78 region while probing $74.50 pivot.

RSI is still just below 46 suggesting more downside price action is underway. Volume profile showed a dense selling level at $75.50 where price sellers dominated bulls. The $74.10 to $73.20 Fib zone is next support.

Price bias has clearly deteriorated from the $75.80 level as price is moving down and inside the overall down channel structure from recent highs. Higher price tops were broken and confirmed by distribution action. Clean price structure and behavior shows that price sellers are clearly in charge of every rebound rally.

Trade idea: Sell $73.34 for $73.20 with stop $74.50.