Gold price firmer as risk aversion lingers, technicals bullish

(Kitco News, Tues. March 25th. 2025) – Gold prices are up a bit and silver prices are solidly higher in early U.S. trading Tuesday. Both metals continue to see save-haven demand amid a general marketplace that remains uneasy due mostly to a disruptive U.S. trade and foreign policy. The charts are also bullish for gold and silver, which continues to invite technical buying from the speculators. April gold was last up $9.00 at $3,024.60. May silver prices were last up $0.49 at $33.94.

Asian and European stock markets were mixed overnight. U.S. stock indexes are pointed to near steady openings today in New York after a quiet overnight session. Reads a Barron’s headline today: “Trump tariff uncertainty will break this stock market calm; brace for another storm.”

The key outside markets today see the U.S. dollar index weaker. Nymex crude oil futures prices are firmer and trading around $69.50 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently 4.358%.

U.S. economic data due for release Tuesday includes the weekly Johnson Redbook retail sales report, the monthly house price index, the S&P Core Logic index, the Richmond Fed business survey, the consumer confidence index and new residential sales.

Technically, April gold futures bulls have the strong overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,100.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $2,900.00. First resistance is seen at this week’s high of $3,038.40 and then at the contract high of $3,065.20. First support is seen at this week’s low of $3,007.70 and then at $3,000.00.

May silver futures bulls have the overall near-term technical advantage. Prices are in a choppy, three-month-old uptrend on the daily bar chart. Silver bulls’ next upside price objective is closing prices above solid technical resistance at the October 2024 high of $35.80. The next downside price objective for the bears is closing prices below solid support at $32.215. First resistance is seen at $34.56 and then at $35.00. Next support is seen at last week’s low of $33.165 and then at $33.00.

Posted by:

Jack Dempsey, President

401 Gold Consultants LLC

jdemp2003@gmail.com