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The US dollar was hammered after Treasury moved to support longer-dated bonds, sending gold and silver sharply higher. It may be premature to declare the debasement trade back, but the embers are glowing.
Precious metals are rangebound, the dollar is hanging tough and traditional macro signals have turned messy. The FOMC minutes may help determine which side breaks first.
Precious metals have exploded higher over the past week, with gold and silver delivering moves rarely seen over comparable periods. Technical breakouts and softer macro headwinds are now working in the bulls’ favour.
Gold, Silver Price Forecast: Gold and silver remain above major long-term support ahead of the Fed decision. Explore key technical levels, the DXY outlook, and bullish and bearish scenarios.
Razan Hilal, FOREX.com Market Analyst, examines the U.S. Dollar Index, gold and silver as rising rate expectations and dollar strength push precious metals toward historically significant technical levels. She explains the key price zones that could determine whether gold and silver extend their declines or establish long-term buying opportunities, and why the next major move may depend on the direction of the U.S. dollar.
Gold and Silver Price Forecast: Gold and Silver face mounting downside risks as the US Dollar Index tests a breakout above 101.20 and Fed rate hike expectations climb above 50%. Explore key scenarios
Nasdaq and Silver Price Outlook: Markets remain cautiously optimistic ahead of the FOMC as Hormuz optimism offsets inflation and dollar strength.
GBPUSD tests the critical 1.33 support zone while silver challenges 65 amid shifting geopolitical sentiment. Explore key support levels, resistance zones, and bullish and bearish scenarios.
The silver squeeze has morphed into a silver swoon. Major supports have crumbled, momentum remains firmly bearish and a familiar battleground at $64.10 is back in focus just as traders brace for US CPI.
We are barely two weeks into the new year, and silver is already up 20% year-to-date. Momentum has evidently remained strong after the metal skyrocketed in the second half of last year, closing 2025 with a gain of nearly 150% to mark its strongest annual performance since the late 1970s. The follow-up gains in these initial days of 2026 makes any silver forecast both intriguing and slightly uncomfortable. Moves of this scale tend to leave the market stretched.
As per my gold 2026 outlook, I am not feeling super bullish on the yellow metal after its staggering almost 70% gains this year. Silver has had an even better 2025, exploding higher by nearly 150% — putting both metals on course for their strongest annual showing since 1979. Will silver break even more records after a historic 2025, or will gravity weigh on the white metal?
Earlier today, silver was up 3.5% but along with gold. But the metal has since fallen sharply to turn flat on the day, potentially signalling a bearish technical reversal. We have seen other markets also come under pressure after a brighter start earlier this morning. Chief among them were cryptocurrencies, where the carnage continues. Ether has broken below $3,000 while Bitcoin has fallen below $90,000.
