Gold and Silver Price Forecast: Will US CPI Trigger a Break Below Key Support?
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Key Points:
- Gold and silver remain under short-term pressure ahead of the U.S. inflation report.
- A stronger U.S. dollar may push both metals toward key support.
- The long-term bullish structure remains intact despite near-term weakness.
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Gold (XAU) and silver (XAG) prices face short term pressure as the market waits for the US inflation report and Federal Reserve Chair Kevin Warsh’s testimony. The spot gold consolidates around the $4,020 level, while silver holds around $57.50 as a stronger U.S. dollar, higher oil prices and Middle East tensions increase market uncertainty. The next move will depend on whether inflation strengthens rate hike expectations or gives both metals room to rebound from key support.