Forecast update for Silver -03-06-2025

The price of (Gold) declined in its recent intraday trading, attempting to gain a positive momentum that might assist it to breach the current resistance at $3,365, noticing its success to offload its overbought condition that was clear on the (RSI) previously.

The price of (EURUSD) declined in its recent intraday trading, due to the stability of the critical resistance at 1.1420, with the emergence of the negative signals on the (RSI), which makes the price attempt to gain a positive momentum that assists it to breach this resistance, supported by its continues trading above the EMA50, and under the domination of the bullish trend and its trading alongside a minor bias line on the short-term basis.

In light of the current volatility in global markets and rising geopolitical tensions, gold remains a safe haven for investors seeking protection against risks. We are witnessing renewed upside movement in gold prices after a recent slight pullback, opening the door to promising buying opportunities that align with positive technical signals on both the daily and hourly timeframes.