Gold currently priced at $4,732. The latest digital silver news reports that the Middle East situation still threatens the market. Although Trump spoke about a ceasefire, Iran directly seized a commercial ship in the Strait of Hormuz, making geopolitical risks still heavy. This could escalate significantly if it worsens, causing investors to rush into gold for safety.

From the technical chart, gold remains in a clear downtrend. It cannot break through the resistance at $4,770. The RSI is at 40, indicating room for further decline. If today’s rebound fails to surpass the resistance, expect a new sell-off to test $4,700 or even $4,645.

But here’s the interesting part. Major financial institutions like CLSA are pointing toward a future target of $6,000 for gold because the trend of abandoning the dollar is gaining momentum. BRICS+ also favors gold as a primary option. Therefore, the current price at $4,700 might be the last chance to buy before the price truly surges.

For short-term traders, focus on selling when the price rebounds to hit resistance. Set a stop loss above $4,785, with the first target at $4,709. If the decline continues, hold the trend to test $4,700 or as low as $4,645. But for long-term investors, wait for a correction before gradually buying, as the $6,000 target is still far away.