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Gold is consolidating after a strong two-day rebound, trading just above the $3,096 pivot zone. Price briefly tested resistance at $3,132 but struggled to push higher, showing signs of hesitation just below the $3,167 barrier. Immediate support sits at $3,096, followed by $3,047.
On the upside, a breakout above $3,132 could clear the path to $3,167 and $3,204. The 50 EMA at $3,057 offers dynamic support, while the 200 EMA at $2,997 underpins the broader trend.
RSI is hovering near 68, approaching overbought territory. Momentum favors bulls above $3,096, but a decisive close above $3,132 is needed to maintain the rally.
Silver (XAG/USD) Price Forecast: Technical Outlook
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