Connect with us

Hi, what are you looking for?

Investing

Gold and Silver: The price of gold retreats to $2000

Gold and Silver: the price of gold retreats to $2000

Yesterday’s attempt by the price of gold to hold above $2040 was unsuccessful.
The price of silver experienced a big drop yesterday from $25.90 to $24.20 level. 

Gold chart analysis

Yesterday’s attempt by the price of gold to hold above $2040 was unsuccessful. A retreat and a fall to the $2010 level followed very quickly. During the Asian trading session, the price of gold remained above the $2010 level, but in the EU session, we saw a breakthrough below and a drop to the $2000 level. Price could find some support here.

We need positive consolidation and a return to the 2015$ level for a bullish option. Then we need to stay above that level in order to stabilize there and start a new recovery with a new impulse. Potential higher targets are $2020 and $2030 levels. For a bearish option, we need a drop below the support at the $2000 level, and the potential lower targets are the $1990 and $1980 levels.

Silver chart analysis

The price of silver experienced a big drop yesterday from $25.90 to $24.20 level. During the Asian trading session, the price of silver continues to fall, and today’s low price is the $23.72 level. If we do not get support at the current position, the price of silver could continue to fall to $23.50. Potential lower targets are the $23.40 and $23.20 levels.

For a bullish option, we need a positive consolidation and a return above $24.00. Then we need to keep up with new momentum to start a new recovery in the price of silver. Potential higher targets are the $24.40 and $24.60 levels.

 

The post Gold and Silver: The price of gold retreats to $2000 appeared first on FinanceBrokerage.

    You May Also Like

    Economy

    Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday, as the mission remains on hold...

    Editor's Pick

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Stock

    S&P 500 pared back its intraday gain on Wednesday following a Bloomberg report that Royal Group has built a multi-billion-dollar short position in U.S....

    Economy

    A U.S. judge has ruled that former Bed Bath & Beyond investor Ryan Cohen can be sued by investors over a tweet he posted featuring an...

    Disclaimer: Richpeoplenetworks.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 Richpeoplenetworks.com