Razan Hilal of Forex.com argues that the recent pullback in gold and silver is mostly a correction inside a still-bullish longer-term structure, but near-term direction is being pressured by a stronger U.S. dollar, higher-for-longer rates, and energy-market appetite. Gold is the more constructive setup, while silver looks weaker unless it reclaims key resistance levels.
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Razan Hilal frames the video around two linked ideas: gold and silver have been correcting after a strong rally, and the current backdrop of a firm U.S. dollar, elevated rates, and relative strength in energy is weighing on precious metals. She presents the dollar as the central macro headwind and then maps that view onto gold and silver charts using trendlines, momentum, and Fibonacci extensions. On the dollar, her message is straightforwardly bullish. She says the U.S. dollar index remains inside an uptrending support structure and a multi-year channel dating back to 2008, and that this keeps the broader bias positive unless there is a confirmed breakdown below 97 and then 95. That dollar strength is the context for why she sees the metals under pressure rather than as evidence that the longer bull market is over. Gold, in her view, is correcting but still technically important. …
Near term, the trade is to respect dollar strength and be cautious on gold/silver while key supports hold. Gold is tactically neutral-to-cautious above 4,360; silver is weaker unless it reclaims 77–80 quickly.
Over the next several weeks to months, gold still looks like a corrective consolidation inside a larger uptrend, with 4,580–4,600 the key confirmation zone for continuation. Silver needs a much cleaner base and a move back above the low-80s to shift from bearish correction to trend resumption.
Structurally, the speaker still treats the precious-metals bull market as intact, with lower prices potentially serving as accumulation zones rather than trend breaks. The longer-run regime implication is that sustained dollar weakness would likely re-open the path to new highs in both metals.
Gold and silver are still correcting after a record rally earlier this year.
She opens by framing the metals as in a corrective phase rather than a fresh breakout.
The U.S. dollar remains structurally bullish unless it breaks 97 and then 95.
She describes a rising support structure and multi-year channel dating back to 2008.
Gold is fragile above 4,360 and could rebound or break down depending on whether that support holds.
She lays out a near-term fork between a rebound and a deeper pullback.
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