Gold, Silver, and Platinum Price Forecasts
Published: July 7, 2025
Author: Vladimir Zernov
Market Overview
Gold prices have recently declined as traders shift their focus to the strengthening U.S. dollar, which has reached weekly highs following the announcement of 25% tariffs on Japan and South Korea by former President Donald Trump. This development has created a bearish sentiment in the gold market.
Gold Analysis
Gold is currently trading below the resistance level of $3350 - $3360. The technical indicators suggest that without a significant catalyst, gold may continue to struggle to break through this resistance.
Current Price Movement: -0.37%
Silver Analysis
Silver has experienced a pullback as traders take profits after reaching multi-year highs. If silver fails to maintain its position above the $36.50 level, it may decline further towards the support range of $35.65 - $35.85.
Current Price Movement: +0.20%
Platinum Analysis
Platinum prices have also decreased amid a broader pullback in the precious metals market. The metal is in need of additional positive catalysts to test new highs. A successful test of the support level at $1335 - $1340 could lead to a further decline towards the next support level of $1270 - $1275.
Current Price Movement: +1.74%
Conclusion
The precious metals market is currently facing headwinds due to the strength of the U.S. dollar and profit-taking activities among traders. The outlook for gold, silver, and platinum remains cautious as they navigate through resistance and support levels.