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

Gold and silver: gold enters a certain consolidation zone

by August 16, 2024
written by August 16, 2024

Gold and silver: gold enters a certain consolidation zone

During this morning’s Asian trading session, the gold price moved in the $2450-$2460 range
On Thursday, the price of silver formed a weekly high at the $28.51 level

Gold chart analysis

During this morning’s Asian trading session, the gold price moved in the $2450-$2460 range. We are now at the $2452 level and are leaning towards the $2450 support level. On the upside, we have pressure from the EMA 50 moving average, which could add to the bearish momentum. With the break below, we go to a new daily low and thus get support for continuing to the bearish side. Potential lower targets are $2445 and $2440 levels.

In the $2440 zone, gold encounters the EMA 200 and can hope for its support. For a bullish option, we need gold prices to rise above the $2460 level. Then, we need to stabilize up there. If we succeed in this, the price would be in a new position to start a bullish consolidation. Potential higher targets are the $2465 and $2470 levels.

 

Silver chart analysis

On Thursday, the price of silver formed a weekly high at the $28.51 level. After that, in this morning’s Asian session, we saw a pullback to the $28.10 level. The price continues to be under pressure in the EU session as well, and the chances of a continuation to the bearish side are growing. At the $28.00 level, we have the EMA 50 moving average, which could slow down the pullback. If its support does not hold, silver will continue to retreat to lower levels.

Potential lower targets are the $27.80 and $27.60 levels. The EMA 200 moving average at $27.80 provides additional major support for the silver price. For a bullish option, we need a positive consolidation above the $28.40 daily open price. This brings us back to this week’s resistance zone. This time, we can hope for a break above and the formation of a new high. Potential higher targets are the $28.60 and $28.80 levels.

 

The post Gold and silver: gold enters a certain consolidation zone appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
EURUSD and GBPUSD: GBPUSD rises to a new high on Friday
next post
Ethereum price is rebounding from last night’s decline

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

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

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

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

  • Bitcoin surges to $98,000, Solana and Ethereum rise while XRP slides

    February 21, 2025
  • Trump touts return of the ‘American Dream’ in historic tariff announcement

    April 2, 2025
  • Texas Instruments faces investor scrutiny amid high capex spending: What to expect in Q2 earnings

    July 23, 2024
  • SafeMoon and Litecoin: New Support Levels and Targets

    October 10, 2024
  • Top Jewish Republican group criticizes Harris for ‘snubbing’ Israeli leader Netanyahu’s speech to Congress

    July 24, 2024

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

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

    July 19, 2024
  • 3

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

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,592)
  • Investing (634)
  • Stock (866)

Latest Posts

  • Russian Losses in Ukraine: NATO Summit

    July 15, 2024
  • PLUG Stock Buy or Sell – Latest News and Forecast

    September 12, 2024
  • Zelenskyy wants nukes or NATO; Trump special envoy Kellogg says ‘slim and none’ chance

    February 6, 2025

Recent Posts

  • Oprah Winfrey makes surprise DNC appearance to rail against man she once considered running for office with

    August 22, 2024
  • Kamala Harris’ ‘friends’ trash her big week with ‘garbage’ insults and attacks on pro-Trump women

    November 1, 2024
  • The national debt is about to hit a terrifying number no matter what we do

    March 7, 2025

Editor’s Pick

  • Macy’s CEO says retailer will hike some prices as tariffs cut into profits

    May 28, 2025
  • Nobel laureates criticize RFK Jr. HHS nomination over ‘lack of credentials,’ vaccine stance

    December 10, 2024
  • Solana and Cardano: Cardano recovers above 0.380 level

    July 10, 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