• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Gold and Silver: Gold is pulling back from this morning

by August 5, 2024
written by August 5, 2024

Gold and Silver: Gold is pulling back from this morning

The price of gold rose to the $2477 level on Friday, forming a new two-week high. 
During this morning’s Asian trading session, the price of silver encountered resistance at the $28.60 level. 

Gold chart analysis

The price of gold rose to the $2477 level on Friday, forming a new two-week high. Shortly after that, it quickly pulled back to the $2410 level. The price found support in the EMA 200 moving average and managed to hold above it. During this morning’s Asian trading session, it reached $2460 and encountered resistance there. Further above, the price had no strength, and a new pullback to EMA200 followed, this time to a $2420 support level.

With a break below, gold will be forced to form a new weekly low and thus confirm the move to the bearish side. Potential lower targets are $2410 and $2400 levels. If we get support here and hold above the 200 EMA, the price of gold could initiate a positive consolidation. After that, we expect a return above $2450 and a test of this morning’s high. Potential higher targets are $2460 and $2470 levels.

 

Silver chart analysis

During this morning’s Asian trading session, the price of silver encountered resistance at the $28.60 level. The inability to continue above triggered a bearish consolidation and price decline to $27.64. With this step, we hint that a further decline could continue, and a new weekly low could be created. It also broke the previous Friday’s low at $27.93. Potential lower targets are $27.40 and $27.20 levels.

For a bullish option, we need a positive consolidation and a return above the $28.00 level first. Silver then needs to stabilize there before initiating further recovery. After that, we can hope for a return to the bullish side. Potential higher targets are $28.20 and $28.40 levels. Additional resistances in the EMA 50 and EMA 200 are in the $28.50-$28.60 zone.

 

The post Gold and Silver: Gold is pulling back from this morning appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Which social media platforms have banned Trump and why? An overview
next post
PSNY Stock: Unpacking Polestar’s Financial Rollercoaster

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • US will know in ‘matter of weeks’ if Russia is serious about peace or using ‘delay tactic’: Rubio

    April 4, 2025
  • ‘New’ Russian missile used against Ukraine not hypersonic, defense officials say

    November 22, 2024
  • Trump transition signs agreement for FBI background checks

    December 4, 2024
  • Trump commutes sentence of Ozy Media founder Carlos Watson

    March 29, 2025
  • Trump Organization sues Capital One bank over account closures after Jan. 6 Capitol riot

    March 10, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,720)
  • Investing (624)
  • Stock (772)

Latest Posts

  • JONATHAN TURLEY: Judge’s Special Counsel ruling may be the setback Trump admin was looking for

    March 2, 2025
  • Actor Will Ferrell ‘threatens’ voters in new Harris campaign ad: ‘Shut the f–k up, Gary’

    November 4, 2024
  • Chinese companies secure record $14 billion in offshore convertible bonds amid high-interest rates

    July 23, 2024

Recent Posts

  • Warner Bros. Discovery sues NBA to secure media rights awarded to Amazon

    July 29, 2024
  • Southwest Airlines’ move to end open-seating a strategic genius or a mistake?

    July 30, 2024
  • Digital health companies pummeled by Wall Street in 2024 as industry adapts to post-Covid slowdown

    December 26, 2024

Editor’s Pick

  • Small businesses barely survived Biden. They can’t wait for tariffs to fix things

    March 14, 2025
  • Bondi, Trump Cabinet convenes task force to root out ‘anti-Christian bias’ in federal agencies

    April 22, 2025
  • October Fests: A potpourri of late election-year ‘surprises’ shake up most races, history shows

    October 26, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock