Gold and Silver Near a Breakdown That Could Get Steep

feature image

The gold and silver outlook steadied after the Federal Reserve held rates in July, yet a firm dollar and rising Treasury yields keep the pressure on.

Razan Hilal, FOREX.com Market Analyst, breaks down the technical setup for gold and silver and the macro forces shaping both charts from Dubai.

Hilal looks at why gold and silver keep grinding inside a tightening July consolidation, and which levels would confirm a bullish breakout or open the door to a steep drawdown. Rising Treasury yields, a strong US dollar index, and persistent US-Iran tensions all feed the pressure building across precious metals.

This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by Forex.com.

X: @Rh_waves

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar