Haciyev Reşit 
Volatile price action has recently drawn attention in the precious metals market. Global economic uncertainty, interest rate expectations, and fluctuations in the U.S. dollar index are causing sharp and rapid direction changes in both gold and silver prices. While gold is consolidating near critical resistance levels, silver is showing recovery signals following its correction, strengthening expectations of a renewed uptrend. From a technical standpoint, key support and resistance levels must be closely monitored for both metals. Daily and weekly closes around these zones could play a decisive role in determining the next major move. Investors believe that a breakout from these levels may trigger a new trend wave.
Gold Analysis: A Break Above $5,100 Could Open the Door to a New ATH
Gold prices tested the $4,400 support level and rebounded strongly, re-entering an upward trend. During this recovery, the key resistance at $5,100 was tested multiple times but has not yet been broken decisively. However, the limited selling pressure at this zone suggests that bears are not in full control. As long as gold does not produce a daily close below the $4,715 support level, the potential for a second upward wave remains strong. Technically, a daily close above $5,100 could trigger renewed bullish momentum. In that scenario, the next major target would be a new all-time high (ATH).
On the downside, if gold fails again at $5,100 and drops below $4,715, short-term selling pressure may increase. The first strong support lies at $4,400. However, since previous rebounds from this area lacked strong continuation, a break below $4,400 could lead to a pullback toward the $4,265 liquidity zone. Analysts consider the $4,400–$4,265 range a strong medium- to long-term accumulation area.
Silver Analysis: $97–$104 Resistance Zone Is Critical
Silver surged to $120 before undergoing a sharp correction down to $64. During this decline, several support levels were lost, but a strong reaction emerged from the $64 region, initiating a recovery phase. Silver successfully broke its short-term downtrend and managed a weekly close around $84, signaling a shift back to a more positive technical outlook. The first major resistance zone stands at $97–$104. If this area is cleared with sustained closes above it, silver could gain strength alongside gold and attempt a new ATH. Should overall strength in precious metals persist, upside momentum in silver could accelerate further.
On the downside, the most critical support level is $74. As long as silver remains above this level, the bullish outlook is not expected to deteriorate significantly. However, a break below $74 could increase selling pressure and potentially drive prices down toward $54. The $54 region is considered a strong untested liquidity zone and could act as a powerful support if revisited.
Evaluation
Both gold and silver are currently consolidating around decisive technical levels. For gold, $5,100 resistance and $4,715 support will determine the next directional move. For silver, the $97–$104 resistance and $74 support are key markers. Breakouts above or below these zones could initiate a fresh trend wave in precious metals. At the same time, macroeconomic developments and movements in the U.S. dollar will continue to play a critical role in shaping price direction for both gold and silver in the coming period.
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