Connect with us

Hi, what are you looking for?

Economy

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

gold

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.

Gold chart analysis

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.

Silver chart analysis

The post Gold and silver: The price of gold recovers to $1930 appeared first on FinanceBrokerage.

You May Also Like

Economy

EURUSD and GBPUSD: Breaking News – EURUSD Struggles to Surpass 1.06000 Mark In the fast-paced world of foreign exchange markets, the EURUSD and GBPUSD...

Trading Secrets

ChartPacks: Unlocking the Full Potential of Your StockCharts Account Made Effortless! In the fast-paced world of stock trading, having access to accurate and timely...

Financial News

House Speaker Kevin McCarthy, R-Calif., said the chamber would vote on a short-term spending bill soon after holding a key vote to proceed with...

Financial News

McCarthy’s Speakership Hangs in the Balance as House Greenlights Stopgap Funding Bill: A Defining Moment Looms In a stunning turn of events, the future...