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Gold (XAU/USD) is trading at $2,859.85, up 0.62%, reflecting strong bullish momentum. The price has comfortably surpassed the pivot point at $2,844.12, signaling continued buying interest. Immediate resistance lies at $2,868.70, and if breached, could pave the way toward $2,886.06.
On the downside, support is noted at $2,824.74, with a critical floor around $2,807.10, near the 50-day EMA, offering dynamic support. The 200-day EMA at $2,754.27 reinforces the broader bullish trend.
Notably, the appearance of a “three white soldiers” pattern on the chart suggests sustained bullish sentiment, potentially pushing prices higher. However, a drop below $2,844.12 could trigger sharp selling pressure.
Silver (XAG/USD) Price Forecast: Technical Outlook
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