Gold, silver see price gains on technical buying

Gold and silver are firmer in early U.S. trade, with June gold last at $4,317.70, up $34.30, and May silver at $73.41, up $0.476. Kitco says the move is being driven by chart-based/speculative buying plus modest safe-haven demand tied to escalating Middle East war risk. The macro backdrop remains supportive for metals: headlines point to renewed pressure for a ceasefire, ongoing regional strikes, and heightened concern around the Strait of Hormuz. Outside markets are mixed-to-supportive for gold, with WTI around $110/bbl, the dollar slightly lower, and the 10-year Treasury yield at 4.35%. Technically, gold bulls are targeting a close above $5,000, with near-term resistance at $4,750 and $4,825.90, while support sits at $4,626.20 and $4,580.40; Wyckoff rating is 5.0. Silver bulls are focused on a close above $80, with resistance at $75 and $76.265 and support at $70 and $67.70; Wyckoff rating also 5.0. Near-term risk is a reversal if geopolitical headlines ease and momentum buying fades, but for now the tape remains constructive.