Silver is finding some selling for the second day in a row and is pulling away from a multi-week high. The technical set-up seems to remain tilted in favor of the bulls and supports the prospects for further gains. A sustained break below the $19.20 area is needed to negate the short-term bullish outlook. Silver […]
Tag: silver
Silver Price Analysis: XAG/USD looks poised to continue higher and aims to reclaim the $21.00 level
Silver trades in a tight range and consolidates its recent gains to a multi-week high. The overnight break through the 50/50% DMA confluence of the Fibonacci level favors the bulls. Any significant drop could now be seen as a buying opportunity and remain short-lived. the silver it consolidates the strong gains of the previous day […]
Recovery above $1,800 for gold
A weaker dollar and a drop in US bond yields revived investor interest in gold, which ended today’s trade regaining the psychological level of $1,800. Specifically, the December gold contract closed at $1,805.2 an ounce, up 0.8% or about $14. The intense uncertainties at the time have not highlighted the character of gold as a […]
Silver Price Analysis: XAG/USD Jumps Back Above $20.00
Silver regains traction on Monday and reverses a major part of Friday’s decline to a one-week low. The bulls still need to wait for a move beyond the confluence region at $20.30-35 before opening aggressive positions. A convincing break below the $19.20 support zone would nullify any short-term positive outlook. Silver attracts some buying near […]
Gold regained $1,800 with new gains of 1.7%
Gold regained the psychological level of $1,800 today as investors appeared to refocus on signs of an impending recession. In particular, the contract of December of gold ended trading at $1,806.9, up 1.7%, marking its highest close since June 30. The decline in US government bond yields combined with the weakening of the dollar gave […]
Silver Price Analysis: XAG/USD is back nearing the 50% retracement and 50-day moving average
Silver rises for the second day in a row. The technical setup favors the bulls and supports the prospects for a further appreciation move. A convincing break below the $19.20 area would turn the bias in favor of the bears. Silver gained momentum and rose for the second day in a row on Thursday, moving […]
Silver Price Analysis: XAG/USD climbs around $20.00 despite improving sentiment
Silver price clings to $20.00 despite market risk appetite. Upbeat US non-manufacturing PMI data kept investors spirited, who believe the US could dodge a recession. Federal Reserve officials stressed their commitment to reduce inflation. silver prices they are pushing against $20, after falling on Tuesday due to the appreciation of the US dollar amid a […]
Silver Price Analysis: Bulls Looking to Take Control Near 50% Fibonacci
Silver reverses modest intraday decline to $20.00 zone. The technical set-up supports the prospects for additional short-term gains. The bulls could wait for the strength to hold beyond the 50-day SMA. On Tuesday, the silver attracted some buying in the $20.15 to $20.10 area and came back close to the one-month high reached the previous […]
Silver Price Analysis: XAG/USD bulls take a breather near the 50-day SMA barrier at $20.50
Silver is seen digesting its recent strong move towards a one-month high, set earlier this Monday. The oscillators on the daily chart favor the bulls and support the prospects for further gains. In the 4 hours chart, the RSI is slightly overbought, which justifies a consolidation before the next rise. the silver struggles to ride […]
Gold gains 3.2% weekly on Fed backdrop
Gold extended its bull run to end a positive week, as a weaker dollar following inflation data turned investor interest towards the precious metal. In this climate, his contract of gold August delivery completed transactions at $1,781.8 the ounce, rising 0.7% or $12.6. In the week the contract strengthened by 3.2%but even so for the […]
