All the pieces are falling into place for silver’s bull market to accelerate, with a breakout into the $40s now looking increasingly likely in the near term.

Gold price rallies to 5-week high as dollar and yields slide. Traders eye $3,451.53 resistance ahead of Powell’s speech. Gold forecast remains bullish.

Gold and copper futures on Tuesday marked their highest settlements on record, while silver ended at its highest price since September 2011, as the U.S. dollar index declined for a third straight session.

Gold prices firmed on Monday, bolstered by a weaker U.S. dollar, while investors sought clarity on trade developments ahead of an August 1 U.S. tariff deadline.

Could the price of gold reach $3,500 this month? A few drivers can sway the precious metal's direction, experts say.

Amid US dollar weakness and equity market volatility in 2025, gold has surged 25.86% year-to-date through June, significantly outpacing the S&P 500’s 6.20% gain.

Producers of metals and other raw materials rose as a weaker dollar propelled some commodities to record highs. Gold futures, which are particuarly sensitive to moves in foreign-exchange markets, rose 1% to $3439.20 an ounce, a new record high.

Gold futures had their best day in over a month, with the front-month contract closing up 1.5% to $3,401.90 a troy ounce.