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Gold trades both sides of unchanged as market consolidates

By Jim Wyckoff

Published:

Jun 26, 2025 - 5:08 PM

Updated:

Jun 26, 2025 - 5:17 PM

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(Kitco News) - Gold prices are near steady and silver prices solidly higher in midday U.S. trading Thursday. Selling interest in the precious yellow metal is being limited by a wilting U.S. dollar index that overnight hit a 3.5-year low today. Buying interest is being limited by de-escalating tensions in the Middle East that have boosted risk appetite. August gold was last steady at $3,343.00. July silver prices were last up $0.449 at $36.545.

The gold market appears to be consolidating and backing and filling as traders await fresh fundamental developments to drive market action.

U.S. stock indexes are posting good gains today as risk aversion has receded this week. The Israel-Iran ceasefire appears to so far be holding.

The key outside markets today see the U.S. dollar index solidly lower and hitting a 3.5-year low. Nymex crude oil futures prices are up and trading around $66.00 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently around 4.27%.

Technically, August gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at the June high of $3,476.30. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $3,300.00. First resistance is seen at Tuesday’s high of $3,385.00 and then at $3,400.00. First support is seen at today’s low of $3,322.50 and then at this week’s low of $3,308.30. Wyckoff's Market Rating: 6.5.

July silver futures bulls have the firm overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at the June high of $37.405. The next downside price objective for the bears is closing prices below solid support at $35.00. First resistance is seen at the overnight high of $36.77 and then at $37.00. Next support is seen at $36.00 and then at Wednesday’s low of $35.63. Wyckoff's Market Rating: 7.0.

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Jim Wyckoff

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

Tags:

gold silver Futures U.S. dollar index Middle East Nymex crude oil oil Oil Futures

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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gold

Gold trades both sides of unchanged as market consolidates

By Jim Wyckoff

Kitco News
The Leading News Source in Precious Metals

Jim Wyckoff

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commodities

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gold

Gold trades both sides of unchanged as market consolidates

By Jim Wyckoff

Kitco NewsThe Leading News Source in Precious Metals

Jim Wyckoff

Tags:

Share

Kitco News
The Leading News Source in Precious Metals