Gold (XAU/USD) & Silver Price Forecast: Weaker Dollar Supports Metals Ahead of PPI - FXEmpire

AI desk brief

Gold and silver are supported by a weaker dollar, geopolitical risk in the Strait of Hormuz, and positioning ahead of Thursday’s U.S. PPI and Friday’s CPI, with traders watching whether inflation data keeps a September Fed hike in play. Gold is trading around $4,413 and holding above $4,347, but remains capped by $4,422–$4,465; a break above $4,465 opens $4,512, while failure below $4,347 exposes $4,290 and the $4,263–$4,221 demand zone.

Silver is the stronger chart, with XAG/USD breaking its descending trendline and reclaiming $67.21 as support. If buyers defend $67.21, upside targets are $68.74 and $70.76; a move back below $67.21 would weaken the breakout and reopen $64.73 and $62.57.