Gold and silver have lost their rebound momentum, with Brent crude above $80 the missing trigger for a decisive breakdown.
戻る
Gold, silver stall near resistance as Brent above $80 threatens breakdown
Gold and silver have lost their rebound momentum, with Brent crude above $80 the missing trigger for a decisive breakdown.
Gold's recovery stalled at $4,202.87, while silver turned lower after reaching $63.25, as sellers failed to secure the breakdown they have been targeting. The next move now hinges on a market far removed from precious metals themselves: Brent crude oil.
"Brent establishing itself above $80 would bring the inflation narrative back to center stage," said Omar Tariq, commodities analyst at Edgen. "That scenario would push the Federal Reserve closer to rate hikes, strengthening the dollar and maintaining upward pressure on real yields."
Events in the Middle East are moving in that direction. Fresh US strikes against Iranian targets followed attacks on commercial shipping in and around the Strait of Hormuz, while President Donald Trump declared the ceasefire effectively over. Washington withdrew the waiver allowing Iran to continue exporting oil, and Tehran responded by branding the strikes a treaty violation. Brent crude's ability to sustain above $80 — reinforced by a move through the 38.2 percent retracement of 98.99 to 70.14 at $81.16 — would signal investors are rebuilding a meaningful geopolitical premium into energy prices.
For precious metals, the implications are clear. A decisive break below gold's $4,000 area and a renewed slide in silver toward $50 would become considerably more likely in that environment.
Gold's Technical Setup Points Lower
Gold remains inside its descending channel, with $4,202.87 marking the key resistance that bulls must overcome. Until then, a break below $3,942.23 remains the preferred scenario. A firm break of that level would resume the larger downtrend, exposing the 50 percent retracement of the 2022 low at $1,614.60 to the 2026 high at $5,598.38 — a target of $3,606.49. COMEX gold inventories and positioning data will provide the next confirmation signal for traders watching the breakdown levels.
Silver Mirrors Gold's Bearish Pattern
Silver is following the same script. The failure at $63.25 reinforces the integrity of the near-term falling channel, while $55.59 remains the key support to watch. A decisive break there would confirm the broader downtrend has resumed and expose the next major downside objective: the 76.4 percent retracement of $28.28 to $121.83 at $50.26. Silver's underperformance relative to gold in recent sessions has widened the gold-silver ratio, a metric that historically signals further downside when it expands during a selloff.
The convergence of geopolitical risk in the Middle East and the technical vulnerability in precious metals creates a high-stakes setup. If Brent crude holds above $80, gold and silver could face their most significant selloff since the 2022 lows. The next catalyst comes with weekly US inventory data and any further escalation in Iran-related shipping disruptions.
This article is for informational purposes only and does not constitute investment advice.
