The precious metals gold and silver are both gearing up for a massive surge. While gold has already broken several records by spiking high at a rapid pace, analysts are still busy charting a new price path for AUX, with its price breaking the $3000 price ceiling. At the same time, Silver is also expected to hit a new high, scaling from $35 to a new $40K mark quite soon.

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The Precious Yellow Metal Rally Is Due In No Time, Says Analyst

Rashad Hajiyev, a notable financial analyst, has come up with new price predictions for gold and silver. The precious metal rally is on the cards per the expert, with noteworthy price spikes that could help both metals establish new notable highs in the near future.

With regards to gold, Hajiyev has predicted that the metal is currently consolidating and may pull back slightly in the coming weeks. The expert shared that the current pullback might be “shallow,” with the gold price hovering around $2,700. The precious yellow metal is currently trading at $2,736.

The yellow metal can make a run for $3000K soon, Hajiyev added, suggesting that gold may initiate a bullish streak once it’s through with its consolidatory phase.

“Gold could make another short-term pullback, following which I expect it to breakout higher towards $3k. The present pullback could be shallow but could also extend towards the $2,700 level.”

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Silver To Hit $40, Claim A New High

Silver is proving to be a lucrative asset to invest in recent times as the metal is gearing up for a massive rally. Hajiyev was quick to review the metal’s current price chart patterns, adding that the silver is on the path to hitting the $40 mark.

While reviewing the silver’s price chart, Hajiyev noted that the metal is currently trading within the two-week wedge formation, which is generally regarded as a bullish indicator. This could soon help the asset adapt to a bullish price pace, with its price inching towards claiming a $40 price mark.

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“Silver is trading within a 2-week wedge formation, which is usually a bullish pattern. Whenever silver starts a parabolic move, I expect it to be a single 2-3 week swing rally to $40 plus…”