Gold and silver prices could rise again in August if certain conditions are met, experts say. The precious metals climate looks decidedly different now, as gold and silver prices have trended downward since reaching those January peaks. Have gold and silver prices fallen far enough to make now a good time to buy, or could prices still fall further? We asked precious metals experts where they think gold and silver prices are headed in August. What will happen to gold prices this August, according to expertsPerhaps unsurprisingly, where gold prices go in August may depend heavily on the conflict in Iran.