Gold and silver face short-term pressure amid Middle East tensions and rising oil prices but remain bullish long-term.

Gold and silver prices initially dropped due to rising geopolitical tensions in the Middle East and a U.S. naval blockade, which increased oil prices above $104 and heightened inflation concerns. Higher energy costs are fueling inflation, pressuring gold as a store of value and creating uncertainty for silver, which is sensitive to industrial demand. Despite short-term volatility and price consolidation below key resistance levels ($4,800 for gold and $100 for silver), both metals maintain a bullish outlook as long as critical support levels hold ($4,000 for gold and $50 for silver). The ongoing geopolitical risks and inflationary pressures suggest potential for further upside in gold and silver prices once market volatility stabilizes.