Connect with us

Hi, what are you looking for?

Real Investment StarReal Investment Star

Economy

Gold is once again on its way to $2200, Silver price fell

Gold is once again on its way to $2200, Silver price fell 

During the Asian trading session, the gold price moved in the $2175-$2180 range.
The price of silver fell this morning to the $24.30 level, a new weekly low. 

Gold chart analysis

During the Asian trading session, the gold price moved in the $2175-$2180 range. As the EU session began, the price started to rise so that we could see a bullish impulse and a jump to the $2197 level. We are very close to the $2200 level and we may visit that level by the end of the day. Yesterday we were at that level, but a return to the zone around the $2180 level followed. Potential higher targets are $2205 and $2210 levels.

We need a negative consolidation of the gold price up to the $2180 level for a bearish option. Below, we enter the zone of the previous longer consolidation. This could push the price of gold to slide even lower and test the EMA200 moving average that we have been supporting since the start of this week. By falling below it, we move to the bearish side, which would negatively affect the price of gold. Potential lower targets are $2165 and $2160 levels.

Silver chart analysis

The price of silver fell this morning to the $24.30 level, a new weekly low. The decline started yesterday after the price jumped to the $24.88 level. We pulled back below the EMA200, which put additional pressure on the price and resulted in yesterday’s decline. We are now at the $24.55 level and are testing the EMA50 moving average. With his support, we could extend this current bullish consolidation. Potential higher targets are $24.60 and $24.70 levels.

At $24.70, we meet the EMA200 again, and we would have to skip it, too, for a further bullish trend. For a bearish option, the price of silver should drop to the $24.40 level. Below that level, we enter the critical zone because we could easily slip below to a new low. Potential lower targets are $24.30 and $24.20 levels.

 

The post Gold is once again on its way to $2200, Silver price fell appeared first on FinanceBrokerage.

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

    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

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Investing

    Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

    Latest News

    There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

    Latest News

    House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

    Disclaimer: realinvestmentstar.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 realinvestmentstar.com