The price of silver remains near the two-year low reached on Friday. Friday’s breakout of a downtrend channel continues to favor the bears. RSI oversold on short-term charts warrants caution before positioning for further decline. The price of silver has failed to capitalize on Friday’s nice recovery move from the two-year low and has seen […]
Tag: silver
Gold losses 1.6% in the week, silver at a 2-year low
Gold pared its losses on Friday after falling below $1,800 during the session, closing the week in the negative. Silver closed at its lowest level since July 2020. Today’s losses for gold came after a 2% plunge for June, with the metals continuing their downward trend and analysts expecting the precious metal to continue to […]
Silver Price Analysis: XAG/USD Bears Remain in Control, Descending Channel Breakout in Play
Silver continues to lose ground on Friday and falls to a two-year low below the $20.00 level. The move down confirms a new bearish breakout of an uptrend channel. Oversold technical oscillators warrant some caution for bears before positioning for further losses. Silver continues to come under intense selling pressure on the last day of […]
Gold at a low of more than two weeks – At a low of almost a year the silver
Gold prices fell slightly lower on Wednesday, with the dollar strengthening to help the precious metal slide to a two-week low. It is noted that the ICE US Dollar, an indicator of the strength of the US currency against a basket of currency, strengthened today by 0.5% and reached 105.03. At the same time, however, […]
Silver Price Analysis: XAG/USD rises to $21.50, targets 200-period SMA
Silver gains strength for the second day in a row and recovers further from the monthly low. The breakout of the 200-period SMA on the 4-hour chart should allow the bulls to conquer the $22.00 level. A sustained weakness below $21.00 would change the bias in favor of the bears. Silver price (XAG/USD) has built […]
Week of small fluctuations for gold in the shadow of rising interest rates
Gold ended the week with a slight decline in its price, as the prospect of further interest rate hikes seems to limit demand for the precious metal. In particular, the gold August delivery completed today at 1,830.3 dollars an ounce, having strengthened slightly by just 50 cents or less than 0.1%. For the entire five-day […]
Silver Price Analysis: XAG/USD Rebounds from Multi-Week Lows
Silver fell to a six-week low on Friday, confirming a bearish break below $21.00. Any significant rally attempts could be seen as a selling opportunity and remain limited. XAG/USD now looks vulnerable to weaken further below the $20.00 psychological level. the silver reversed a sharp drop to a six-week low and was last seen posting […]
Silver Price Analysis: XAG/USD near 1-week lows, looks vulnerable to further decline
The price of silver falls for the second day in a row and again approaches the low of a week. The situation remains favorable to the bears and supports the prospects for further losses. Sustained strength above $22.00 is needed to negate short-term negative outlooks. Silver price is unable to take advantage of the previous […]
Silver Price Analysis: XAG/USD bears could now aim to test the year low around the $20.45 zone
Silver saw fresh selling on Wednesday and broke the horizontal support at $21.50. The technical setup favors the bears and supports the prospects for an extension of the decline. Sustained strength beyond the $22.00 mark is needed to negate the short-term bearish outlook. On Wednesday, the silver came under renewed selling pressure and broke below […]
Silver Price Analysis: XAG/USD Hits Session High at $21.65 on US Retail Sales Data.
Silver just hit session highs of $21.60 after weak US retail sales data ahead of Wednesday’s Fed announcement. XAG/USD remains at risk of reversing the day’s gains if the Fed delivers an aggressive surprise. Silver prices (XAG/USD) reached new session highs of $21.60 per troy ounce after the latest US retail sales report, which showed […]
