Silver Stalls at $60 as CPM Forecasts Gold Range

Jeffrey Christian of CPM Group provided an update on precious metals, including gold and silver prices. The organization expects gold to trade between $3,800 and $4,200 in August.

The current technical levels affecting gold are being monitored by CPM. They also anticipate the Federal Reserve's Jackson Hole conference will be a key event for gold investors.

Silver is testing the $60 area but may see another temporary drop below $56 during August. The outlook becomes more constructive in the final four months of the year, as concerns over politics, economics, inflation, and currencies could boost investment demand.