This indicates that the gold remains under pressure in the short term. Spot gold must break above $4,100 to open the door for further upside towards $4,200. The break above $4,200 will likely push the price towards $4,370. However, the immediate support now remains at the $3,900 area.
Silver Price Forecast – $55 Support Comes Under Pressure
XAGUSD Daily Chart Tests Major Support Zone
The daily chart for spot silver also shows extreme pressure in silver prices. The price is now consolidating around the lower boundary of the primary support at $55. A break below $55 will likely push silver prices towards the major accumulation zone between $45 and $55. As long as the silver remains above $45, the prices will likely form a bottom and continue to rally.
The recent consolidation in silver prices since 24 June 2026 suggests extreme bearish pressure in prices and indicates further downside if prices break below $55.