Gold, silver extend price rallies amid weaker USDX, dip in bond yields

Gold and silver extended gains in early U.S. trade, with June gold last up $93.90 at $4,771.70 and May silver up $0.321 at $75.24. Kitco frames the move as being driven by a weaker U.S. dollar index, lower bond yields and broader safe-haven support as markets watch developments in the Iran conflict. The piece highlights a sharp geopolitical risk bid: Trump said he expects the U.S. to exit the Iran war within two to three weeks, while Iran has reportedly attacked multiple regional targets including Israel, Bahrain, Kuwait, a tanker off Qatar and the UAE. Meanwhile, CFTC said it is monitoring unusual activity in crude futures after a prior price spike tied to Trump’s social-media comments, reinforcing the market sensitivity to headline risk across commodities. Technically, gold bulls are targeting a close above $5,000, with resistance at $4,800 and $4,900 and support at $4,700 then $4,600; downside risk opens below $4,300. Silver bulls need a close above $80, with resistance at $76 and $77.50 and support at $72 then $70. Near term, the metals remain highly headline-driven: any de-escalation in the Middle East could trim the safe-haven bid, while further deterioration or lower Treasury yields would likely keep momentum intact.