Gold and silver are heading into a data-heavy week with both metals trading near key technical levels. The Gold price climbed 0.99% to $4,648.56 on August 24, reaching its highest level in more than three months after gaining over 5% last week.
The silver price is also pressing higher at $69.13, up 18% this month and trading near a two-month high. With U.S. inflation data, Federal Reserve Chair Kevin Warsh’s speech and the Jackson Hole Symposium ahead, the next moves in the gold price and silver price could depend heavily on the dollar and rate expectations.
Analyst MBAeconomics has also outlined bullish targets for both metals, and our own gold and silver price analysis points to several levels traders need to watch.
What you'll learn 👉
Gold Price Could Target $4,800 – $4,900 Before $5,400
MBAeconomics expects the gold price to continue higher after breaking above $4,600. The analyst sees $4800 – $4,900 as the next major zone before a potential pullback, meaning the gold price would need to climb roughly 3.3%-5.4% from $4,648.56 to reach that area.
What to expect from gold and silver in the week ahead?
— MBAeconomics (@MBAeconomics1) August 23, 2026
The metals closed last week near their highs, signaling that they still have room to run.
Gold broke above $4,600 and could push toward $4,800–$4,900 before the next pullback.
Silver broke through $67 resistance and…
Our chart analysis supports the bullish structure but identifies more resistance ahead. Gold reacted from the $4,097 monthly level and moved through the $4,371 monthly objective.
The next major monthly objective is $5,419, but the weekly chart contains obstacles at $4,771 and $4,891.53. A sustained move through those levels would open the path toward $5,419.
The momentum indicators also remain strong. The Stochastic is at 98.08, with its signal at 96.31, placing the indicator deep in overbought territory. The Ultimate Oscillator is at 68.70, showing strong buying pressure but also warning that gold could become vulnerable to a temporary retracement.
Silver Price Eyes $71 First, Then $89
The silver price is approaching the first major level identified by both the analyst and our chart. MBAeconomics says silver broke above $67 resistance, touched $70 and has $72 as the next key resistance. With the silver price at $69.13, that level is less than 5% away.
Our analysis starts from the $61 monthly level, where silver found support and began its latest advance. The next objective is $71, followed by $89 if buyers clear that resistance.
A rejection around $71 could send the silver price back toward $62 or even $54. If $71 is broken decisively, $89 becomes the next major target.
The chart also shows strong momentum, with the Stochastic at 91.57 and its signal at 91.86. The Ultimate Oscillator stands at 57.34, giving silver more room than gold before momentum reaches an extreme reading.
Related Gold News: Gold Price Alert: This Indicator Is Flashing a Warning Sign
News That Could Push Gold and Silver Prices This Week
The U.S. Core PCE Price Index is expected at 0.2% month-on-month versus 0.1% previously, making the inflation reading important for rate expectations.
Preliminary GDP is forecast at 1.5%, unemployment claims at 208,000 versus 206,000 previously, and revised consumer sentiment at 51.0.
Fed Chair Kevin Warsh is also scheduled to speak, with Jackson Hole running through August 29. His comments could influence Treasury yields and the dollar, two major drivers of the gold price and silver price.
The dollar is near multi-month lows, giving precious metals additional support. Treasury buybacks have also pushed bond yields and the dollar lower, supporting demand for metals amid fiscal concerns.
However, our gold price prediction remains bullish above the key weekly levels, with $4,771 and $4,891.53 acting as the next hurdles before $5,419. For silver, $71 is the immediate test, with a breakout opening $89, whereas rejection could send the price toward $62 or $54.
Overall, our analysis closely matches MBAeconomics’ bullish view, with both pointing to higher targets before the next major retracement. The key difference is that our chart identifies specific support and resistance levels that could determine whether those targets are reached.
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