[ad_1]
Silver, by contrast, is failing to follow gold’s lead. The market is facing resistance at $34.59 and a more significant ceiling between $34.87 and $35.40. Monday’s bounce off $33.625 offered temporary relief, but traders remain cautious. A break below this minor support could accelerate losses toward the 50-day moving average at $32.43.
This underperformance may be tied to weaker industrial signals out of China—a key demand center for silver—and a lack of buying interest from central banks, which have concentrated allocations heavily in gold. Unlike gold, silver lacks the same safe-haven cachet and remains vulnerable to swings in global manufacturing sentiment.
Market Forecast: Gold Bullish, Silver Range-Bound with Downside Risk
Gold’s short-term setup remains bullish, but overbought technicals could lead to a consolidation or pullback, with strong support near $2999. Silver, however, appears range-bound and vulnerable. Failure to hold above $33.625 opens the door to a steeper correction. Until macro drivers improve or silver breaks out above $35.40, traders may continue to favor gold over silver for directional exposure.
More Information in our Economic Calendar.
[ad_2]
