Is it time to buy the dip in gold? Full breakdown of the latest insights from the internet-famous prediction king, Torsten! Back in April, he predicted gold and silver would bottom out between June and July. On July 2, his report concluded that 90% of the decline was complete, and around July 7, there’s a high probability of hitting the major bottom. $3,900 is the key support level. Long-term forecast: by 2029, gold at $7,500 and silver at $120.