Gold and Silver Forecast: Metals continue to be bullish and consolidate

The uncertainty of the French presidential election and key data from the United States will limit the rise in gold and silver prices. Although currently in a consolidation phase, it should not be seen as a sign of weakness. Gold has been consolidating since early April, with many support levels potentially forming a bottom during the decline. Precious metals have formed multiple higher lows and higher highs, maintaining a bullish view. If the price of gold falls below the support level of $2300, $2222 is the first line of defense for the bulls. Political uncertainty has had some indirect impact on the price of gold. Important data includes core PCE inflation data, non-farm payroll reports, and CPI reports