Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

Gold and silver: The price of gold recovers to $1930

Gold and silver: The price of gold recovers to $1930

During the Asian trading session, we saw a correction in the price of gold from $1916 to $1930.
During the Asian trading session, the price of silver recovered from last week’s low at the $22.80 level. 

Gold chart analysis

During the Asian trading session, we saw a correction in the price of gold from $1916 to $1930. After that, the price stopped at $1930 and retreated to $1926, where it is now consolidating. Bearish pressure is increasing, which could lead to bearish consolidation and a return to the previous support zone. With a break below this support, we will see the formation of a new September low. Potential lower targets are the $1910 and $1905 levels.

We need a positive consolidation and price breakout above the $1932 level for a bullish option. Thus, we would climb above $1930 of the previous high, and thus, we would confirm the bullish option. We also get additional support in the EMA50 moving average to continue to the bullish side. Potential higher targets are $1935 and $1940 levels.

Silver chart analysis

During the Asian trading session, the price of silver recovered from last week’s low at the $22.80 level. Today’s high price is the $23.20 level, and for now, that level is resistance for us to continue on the bullish side. We need a break above and try to stay there above. With a new impulse, we would start a further increase in the price of silver. Potential higher targets are $23.40 and $23.60 levels.

We need a negative consolidation and a return to the $22.80 support zone for a bearish option. A break below would mean that we could see the formation of a new low and thus confirm the bearish trend. Potential lower targets are $22.60 and $22.40 levels.

 

The post Gold and silver: The price of gold recovers to $1930 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

    Investing

    Political advisers to both President Biden and Vice President Harris were reportedly annoyed with Democrat California Gov. Gavin Newsom over a planned debate with...

    Editor's Pick

    By the IoT Analytics team. A new report from IoT Analytics highlights eight notable trends helping to advance and promote digital twins. Four of...

    Investing

    Vermont Sen. Bernie Sanders, 81, defended President Biden, 80, against voter critiques that he lacks the energy and vigor to continue leading the United...

    Stock

    A second delivery driver has died in Texas amid record-high temperatures, just as the regulation of workplace heat safety enters a new legal limbo...

    Disclaimer: thefreedomright.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 © 2020-2024 The Freedom Right. All Rights Reserved