Silver gold price forecast technicals reveal gold staying above Fibonacci retracement levels from May’s lows, while silver’s breakout attempt depends on volume confirmation in futures trading. The silver boom this year, however, is far from a technical phenomenon. As a precious metal, silver is often bracketed with gold as an inflation hedge and a store of value in times of economic uncertainty and geopolitical volatility. I remain bullish on the NASDAQ 100 Index and see it as an unequivocal buy. NASDAQ 100 Index Weekly Price Chart XAG/USD Silver had yet another great week, showing yet another outsize rise in value of almost 4%, and powering up to a new 14-year high which is now very close to the all-time high made in 2011. It also outperformed Gold and all other precious metals. These are bullish signs, as is the breakout from the linear regression analysis shown within the price chart below – the price is well above the upper bound. With Silver’s outperformance against Gold, it is probably worth being bold on the long side here. Having said, if you are just entering a new long trade here, as the move is quite extended, a smaller position size might be wise. Volatility is high, so a strong downwards movement is possible when the retracement finally comes. I remain very bullish on Silver but worry that it may have peaked on such a large move. Trading the trend with a trailing stop is a good answer to this dilemma if you do it systematically. There could well be profit taking at $50, especially if Gold reaches $4,000 systematically. XAG/USD Weekly Price Chart XAU/USD Gold rose last week to rise to print a new all-time high, but closed a bit below that high and the round number at $4,000. It is worth noting that Gold underperformed Silver last week, but not by a lot The long-term bullish trend and break to new record highs are bullish factors, as is the strong US stock market, as the US stock market has tended to be positively correlated with Gold, to the surprise of many who see it as a hedge against inflation. For anyone who is only entering a long trade now, it might be wise to use a smaller position size to account for any sudden high-volatility snapback towards lower prices. Just like the stock market, you have to wonder how much further this bull run will last – but it is backed by a very strong long-term bullish trend, and you trade against that at your peril unless you start to see clear signs of a reversal in the price action – which is not showing here yet. There could well be profit taking at $4,000, especially if Silver reaches $50 simultaneously. I am bullish on Gold, but it might be wise to take a smaller long position here than with Silver, which looks more bullish. XAU/USD Weekly Price Chart Bottom Line I see the best trades this week as: Long of the S&P 500 Index. Long of the NASDAQ 100 Index. Long of Silver. Long of Gold. Ready to trade our Forex weekly forecast ? Check out our list of the top 100 Forex brokers . Silver gold price forecast points to potential volatility as the U.S. dollar index strengthens, pressuring metals, yet gold remains supported by central bank buying, particularly in Asia, which could keep prices near quarterly highs.