Gold and silver build on gains, but breakout still elusive

David Morrison

SENIOR MARKET ANALYST

16 July 2025

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Precious metals built on recent gains overnight, with both gold and silver edging higher in early trade. Gold was supported by lingering inflation concerns and cautious sentiment following Tuesday’s CPI release. But prices stalled before clearing any key technical levels.

The daily MACD continues to move sideways along the neutral zone, so offering few clues to the likely direction of gold’s next move.

Source: TN Trader

Silver followed a similar trajectory. After a sharp spike on Monday morning that took it briefly above $39 per ounce, some profit taking crept in to keep prices in check. The lack of follow-through has left silver bulls frustrated, especially as broader risk assets remain well bid.

Both metals are now stuck in relatively well-defined ranges, awaiting a clearer catalyst to break out.


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