Gold and Silver Price Forecast: Market Analysis

Published: June 23, 2026

Author: Arslan Ali

Key Highlights

• The US-Iran ceasefire has been in effect for over eleven weeks, leading to a gradual resumption of tanker traffic through the Strait of Hormuz.
• Gold prices have dipped to $4,130, testing a critical pivot zone, while silver has fallen to $62.94, breaking below its pivot zone.
• China's People’s Bank has maintained gold purchases for over 17 months, providing long-term support for gold prices.

Market Overview

As of June 23, gold and silver markets are experiencing a calmer trading environment following the US-Iran agreement, which is expected to ease previous energy supply constraints. This development may reduce short-term demand for safe-haven assets like gold and silver, but long-term support remains strong due to ongoing central bank purchases and modest production levels.

Gold Price Analysis

Gold is currently trading at $4,130, having retested the blue pivot zone. The price has shown bearish continuation with lower highs, indicating potential distribution. The Relative Strength Index (RSI) has dipped below 45, suggesting weakening momentum. The next support zone to watch is between $4,170 and $4,200, while resistance is indicated around $4,282.

Trade Idea: Buy at $4,130, targeting $4,222, with a stop-loss at $4,078.

Silver Price Analysis

Silver is trading at $62.94, having broken below its pivot zone of $64.29. The market shows bearish continuation with lower highs and increased selling pressure, as indicated by the RSI just below 45. The next potential downside target is between $61.50 and $59.97.

Trade Idea: Sell at $62.94, targeting $61.50, with a stop-loss at $64.29.

Conclusion

The current market conditions for gold and silver suggest a bearish trend, influenced by geopolitical developments and central bank activities. Traders should remain cautious and consider the outlined trade ideas based on technical analysis.

About the Author

Arslan Ali holds an MBA in finance and an MPhil in behavioral finance. He specializes in financial analysis and investor psychology, providing insights into market sentiment and potential price movements.