Connect with us

Hi, what are you looking for?

Oracle of  Omaha SaysOracle of  Omaha Says

Economy

Gold and silver: the price of gold remains above $1950

Gold and silver: the price of gold remains above $1950

During the Asian trading session, we saw a pullback in the price of gold to the $1950 level.
The price of silver reached the $25.00 level last week.

Gold chart analysis

During the Asian trading session, we saw a pullback in the price of gold to the $1950 level. After that, with a bullish impulse, the price rises to $1955. For now, we have resistance at that level and need a break above to continue on the bullish side. If the current consolidation continues with a slight downward slide, the price of gold could easily visit the next support levels. Potential lower targets are $1945 and $1940 levels.

We need a positive consolidation and price breakout above the $1960 level for a bullish option. Then, we need to hold up there in order to initiate further growth above the previous high. Potential higher targets are $1965 and $1970 levels.

Silver chart analysis

The price of silver reached the $25.00 level last week. After that, we see a pullback and a slight price drop. During the Asian trading session, the price of silver hovered around the $24.80 level. The chart shows that the indicators have moved to the bearish side and are pressuring the price. This could have a negative impact and lower the price of silver. Potential lower targets are $24.60 and $24.40 levels.

We need positive consolidation and a return to the zone around the $25.00 level for a bullish option. Then we need a break above and try to hold up there. If we succeed in this, silver would have the opportunity to continue its growth. Potential higher targets are $25.20 and $25.40 levels.

 

The post Gold and silver: the price of gold remains above $1950 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    A former Republican legislative candidate who traveled to Washington for former President Donald Trump’s ‘Stop the Steal’ rally was arrested Friday and charged with...

    Latest News

    Abbe Lowell, Hunter Biden’s attorney, filed an ethics complaint Friday against Georgia Rep. Marjorie Taylor Green after she displayed censured nude photos of the president’s...

    Stock

    Even as U.S. inflation broadly cools, frozen vegetable prices are hot. The average shelf price for frozen veggies rose by 18% in the past year...

    Latest News

    President Biden has overruled the Pentagon and chosen Adm. Lisa Franchetti to lead the Navy, making her the first woman, if she’s confirmed, to...

    Disclaimer: Oracleofomahasays.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Oracleofomahasays.com