Forecast update for Silver -05-11-2026

Gold is holding onto a series of sharp gains in its latest intraday trading, supported by its earlier breakout from a minor descending price channel that had constrained its previous short-term movements. The price is also benefiting from continued trading above the EMA50. However, negative signals have started emerging from the relative strength indicators after reaching deeply overbought levels, capping the latest gains as the price attempts to unwind these overbought conditions.

The EURUSD pair declined in its latest intraday trading, following the resilience of the stubborn resistance level at 1.1260. The pair is attempting to gather positive momentum that may help it recover and breach this resistance, amid the dominance of a short-term bullish corrective wave. Price movements remain alongside a supporting trend line that reinforces this path, while positive pressure continues to stem from trading above the EMA50, increasing the chances of a recovery.

Coffee prices came under renewed negative pressure in recent trading, forcing the price to settle below the additional support level at 282.85, to begin forming new bearish waves by reaching 277.00 level.