Gold is falling more than 1.5% today to USD 4,500 per ounce, while silver is posting a sharp nearly 5% decline to USD 74 per ounce amid a stronger US dollar and rising bond yields. At least in the short term, fundamentals appear supportive for the dollar, which is benefiting from solid US economic data, elevated oil prices, and persistent uncertainty surrounding the Middle East conflict and its inflationary implications, which are gradually starting to materialize.
Key news
- Yields on 30-year US Treasuries climbed today to their highest level since 2007.
- Comments from Donald Trump suggest that the US could potentially strike Iran again, although no final decision has been made.
- Scott Bessent indicated that the US does not want to rush into extending the tariff truce with China, which investors may interpret as a lingering risk of a renewed trade war.
GOLD, SILVER, USDIDX charts (D1)
Gold is approaching its 200-session exponential moving average EMA200 (red line) near USD 4,330 per ounce. A move below this level could signal a downside breakout from the symmetrical triangle pattern. On the other hand, a rebound above USD 4,750 would indicate a possible return of the broader bullish trend.

Source: xStation5
For silver, the key support level appears to be USD 70 per ounce, located near the EMA200 (red line).

Source: xStation5

Source: xStation5
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