Gold (XAUUSD) and Silver Technical Analysis: $3,400 and $35 Levels in Focus Amid Iran Tensions
Gold and silver are gaining strong upside momentum as geopolitical risks surrounding Iran intensify. The rising tension has triggered a surge in safe-haven demand, pushing both metals to test key resistance levels. As markets brace for potential U.S. military involvement in the Middle East, traders are watching the $3,400 mark for gold and the $35 level for silver.
Gold Targets $3,400 as Safe-Haven Demand Grows
Gold (XAUUSD) has seen a sharp rally in recent sessions, climbing steadily amid heightened risk aversion. The precious metal is currently trading near the $3,350 zone and appears poised to challenge the next major resistance at $3,400. Technical indicators point to strong bullish momentum, with price action forming a clear uptrend on the daily chart.
Geopolitical instability has historically acted as a major catalyst for gold, and the current crisis in the Middle East is no exception. Traders are flocking to gold to hedge against escalating global risks, inflation fears, and equity market volatility. If the $3,400 level is breached convincingly, the next resistance may lie around $3,450, with support seen at $3,300 in the near term. Oil Price
Silver Eyes $35 as Bullish Pressure Builds
Silver (XAGUSD) is also benefiting from the broader flight to safety. The metal is currently hovering just below the $34 mark, with growing momentum pointing toward a test of the critical $35 resistance. Silver has gained more than 7% over the past week as investors seek alternative stores of value.
From a technical standpoint, silver’s recent breakout above $33.50 suggests more upside potential, especially if geopolitical tensions worsen. A clear move above $35 could open the path to $36.50, while initial support sits at $33.80. FXempire
Outlook: Volatility and Momentum
With geopolitical tensions escalating and risk sentiment remaining fragile, gold and silver are likely to retain their bullish posture in the short term. Any confirmation of military action or broader conflict could push prices even higher, as markets shift further into risk-off mode.
As such, traders should watch the $3,400 and $35 levels closely, as a breakout above these zones may signal a new leg higher in both metals. Until tensions ease, precious metals are expected to remain front and center for global investors seeking stability.
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