Here is an important update on gold, silver and copper.

Gold
March 17 (King World News) – Naveen Nair at Citi:  The bullish signals continue for Gold spot even though we found resistance at the 2984 level (76.4% Fibonacci extension). Thus far, the Fibonacci levels have been very good levels to watch and we expect this to continue,

We see resistance at 3043-3068 (200% Fibonacci extension, ascending channel top). On the flipside, we see support at 2790 (Dec 2024 high).

Uptrend Channel For Gold Remains Bullish

Silver
A rather bullish picture in Silver. We have broken weekly above the neckline of an inverted head and shoulders formation. This formation suggests a target of ~37.20.

However, while we are bullish, we are a little more cautious. We think Silver is likely to rally towards the 34.09 handle (2024 high). However, beyond that, we see stiff resistance again at 35.3650 (October 2012 high), which is likely to limit a rally in the short term.

IF we close weekly above that as well, we think it would open the path towards 37.20-37.48 (Head and shoulders target, 2012 high). 

On the flipside we see support at 31.45 (55d MA).

Silver Price Target $37.20

Silver Has Already Broken Out On The Upside

Copper
Technicals continue to look bullish even though we have found resistance at 9782-9827 (November high, 76.4% Fibonacci).

We remind that we have an inverted head and shoulders in play with a target at 9934, which is close to the next layer of resistance at 1000-10158 (psychological level and September high).

Support can be found at 9409 (55w MA).

Copper Price Headed Above 10,000

Weekly Copper Chart Shows Roadmap To 11,000+ All-time High

Summary
The technical picture remains very bullish in metals. In this update, we take a look at gold, silver and copper: 

  • Gold: We see resistance at $3043-3068
  • Silver: Initiated inverted head and shoulders formation. We see next resistance at $34.09
  • Copper: Found resistance at 9782-9827, but we techs indicators suggest a bullish picture towards 9934.

JUST RELEASED! $3,000 Gold
To listen to Alasdair Macleod discuss the gold price breaking above $3,000 and much more CLICK HERE OR ON THE IMAGE BELOW.

© 2025 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the articles is permitted and encouraged.