Gold closed higher on Friday and silver rebounded from a two-year low, but both precious metals were down for the week. In particular, Mr gold December delivery rose $13.30, or 0.8%, to $1,722.60 an ounce. Gold, which on Thursday closed at its lowest level since July 20, fell 1.6 percent for the week, according to […]
Tag: silver
Gold and silver down: At 6-week lows and over two-year lows respectively
Precious metal prices fell again on Thursday, with gold falling to its lowest level in about six weeks and silver closing at its lowest level in more than two years as investors bet that interest rates will remain high for longer period of time. “Both gold and silver are suffering due to similar reasons: rising […]
Fifth month of decline for gold under pressure from interest rates
With losses both on a daily and a monthly basis, gold finished the trading of August, which shows that it cannot face the pressures exerted on it by the tightening of the monetary policy and the strengthening of the dollar. In particular, the gold contract for December delivery closed today at $1,726.2 the ounce with […]
Silver Price Analysis: XAG/USD bears in control below $19.00
Silver remains on the defensive, near one-month lows hit on Monday. The situation favors bearish traders and supports the prospect of further losses. Any recovery attempts above the $19.00 mark are likely to run out. the silver it struggles to gain traction on Tuesday and is holding close to a one-month low hit the day […]
Silver sinks below $19.00 on Powell’s remarks and sour sentiment
The price of silver is preparing to end the week with losses of 0.64%. The president of the Fed, Powell, reiterated the objective of the US central bank to lower inflation, even if it generates “pain for households and companies” Encouraging US economic data weighed on white metal prices, which tumbled more than $0.30. the […]
Hold on for gold
Gold was largely unchanged in today’s trading as investors indicated they will wait for some indication of the Fed’s intentions in President Powell’s speech on Friday before deciding how to proceed. Against this backdrop, the gold contract for December delivery settled at $1,761.5 an ounce, gaining just 30 cents, or 0.02%. Elsewhere, metals trends were […]
Losses of 0.8% sent gold to a one-month low
The price of gold fell to an almost one-month low, amid a general sell-off in the metals against the backdrop of the dollar’s renewed surge and heightened concerns about another giant interest rate hike by the Fed. Specifically, the December gold contract ended the day trading having lost $14.50, or 0.8%, at $1,748.4 an ounce. […]
Silver Price Analysis: XAG/USD vulnerable below 50 DMA, clings to 38.2% Fibonacci level
On Wednesday, silver saw some selling for the third day in a row. Acceptance below the 50 DMA supports the prospect of further losses. Any recovery attempt could now be seen as a selling opportunity. the silver struggles to take advantage of the late bounce from the previous day and finds fresh offers near the […]
Silver Price Analysis: Chance to break below $20.00, vulnerable near 50 DMA
Silver loses ground for the second day in a row and falls to a one-week low. The drop marks a bearish break below a one-week trading range. The bears still have to wait for a sustained break below $20.00 before making further bets. the silver witnesses selling for the second day in a row on […]
Silver Price Analysis: XAG/USD rally to $20.50, retrace much of Thursday’s decline
Silver attracts new buying near the 50 DMA and reverses a significant portion of overnight losses. The technical setup remains tilted in the bulls’ favor and supports the prospects for further gains. A sustained break below $20.00 is needed to negate the positive short-term outlook. the silver It shows some resistance below the 50% Fibonacci […]