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The price of Gold continues to rise, silver is also going up

The price of Gold continues to rise, silver is also going up

During the Asian trading session, we saw a new jump in the price of gold to the $2018 level.
During the Asian trading session, we saw a continuation of the bullish consolidation from Friday all the way to the $24.81 level.

Gold chart analysis

During the Asian trading session, we saw a new jump in the price of gold to the $2018 level. At that level, we formed a new six-month gold price high. After that, we see a slight pullback to the $2010 levels, where we manage to get support and initiate a new bullish consolidation. We are now already at 2015$, and we could soon test the previous high prices. Potential higher targets are $2020 and $2025 levels.

We need a negative consolidation and a new pullback below the $2010 level for a bearish option. In this way, we could initiate a bearish impulse and see the formation of a new low gold price. Potential lower targets are $2005 and $2000 levels. EMA50 moving average is in the zone around $1995 levels.

Silver chart analysis

During the Asian trading session, we saw a continuation of the bullish consolidation from Friday all the way to the $24.81 level. After that, the price starts consolidating in the $24.60-$24.80 range. We continue to hold high and expect to see a breakout above the previous high and form a new one. Potential higher targets are $25.00 and $25.20 levels. The last time we were above $25.00 was in July.

We need a negative consolidation and pullback to the previous low at the $24.40 level for a bearish option. Next, we need a breakout below that would lead to the formation of this week’s new low. Potential lower targets are $24.20 and $24.00 levels. The EMA50 moving average is in the zone around $23.80 levels.

The post The price of Gold continues to rise, silver is also going up appeared first on FinanceBrokerage.

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