End of day gold price forecast update – 31-01-2025 – Economies.com

Gold price rallied upwards to succeed touching our waited target at 2808.20$, and we need to monitor trades according to this level, as its consolidation against the positive attempts will push the price to rebound bearishly and head to test the minor support base at 2790.00$ initially, while breaching it will lead the price to achieve additional gains that reach 2850.00$.

Brent oil price forecast update 31-01-2025

Brent oil price faces negative pressure to attempt to break 77.05$ level, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active for the upcoming period, reminding you that the main waited target reaches 78.40$, taking into consideration that confirming breaking 77.05$ will put the price under negative pressure that targets 75.66$ initially.

The expected trading range for today is between 76.00$ support and 79.00$ resistance.

Trend forecast: Bullish

Crude oil price forecast update 31-01-2025

Crude oil price shows negative trades to move below 73.90$ level and hint heading to resume the correctional bearish wave, and we prefer to stay aside until the price confirms its situation according to this level, as confirming holding below it will push the price towards 72.30$ as a next correctional target, while consolidating above it will lead the price to achieve positive targets that start at 75.52$.

The expected trading range for today is between 72.80$ support and 75.80$ resistance

Trend forecast: Neutral

Silver price forecast update 31-01-2025

Silver price is testing 31.63$ level now, waiting to breach this level to confirm the continuation of the bullish wave that its next target reaches 32.86$.

In general, we will continue to suggest the bullish trend for today unless breaking 30.63$ and holding below it.

The expected trading range for today is between 31.00$ support and 31.95$ resistance.

Trend forecast: Bullish