Gold, silver see solid gains on safe-haven demand, rally in oil

Gold and silver are surging on broad safe-haven demand, with June gold up $90 to $4,647/oz and May silver up $3.566 to $74.13/oz in midday U.S. trade. The move is being driven by escalating Middle East war risk, firmer crude, a weaker dollar, and softer U.S. Treasury prices, all of which are reinforcing precious-metals buying into quarter-end. Kitco notes Nymex WTI crude is around $105/bbl, the U.S. dollar index is lower, and the benchmark 10-year Treasury yield is near 4.3%. The article also flags that today is the last trading day of both the month and quarter, making technical positioning and end-of-period flows especially important. On the technical side, gold bulls are now eyeing a close above $4,750, while silver needs a close above $80 to extend the rally. Near term, traders will watch whether geopolitical headlines keep safe-haven bids intact and whether quarter-end rebalancing amplifies the move. Gold support is outlined at $4,500 and then $4,444.70, while silver support sits at $70 and then $67.70. A reversal in crude, dollar strength, or Treasury yields could quickly take some heat out of the rally, but momentum remains firmly bullish for now.