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

Gold and silver are making moves towards support levels

by August 28, 2024
written by August 28, 2024

Gold and silver are making moves towards support levels

During this morning’s Asian trading session, the price of gold rose to $2529, a new weekly high
During this morning’s Asian trading session, the price of silver retreated below the $30.00 level

Gold chart analysis

During this morning’s Asian trading session, the price of gold rose to $2529, a new weekly high. After that, a bearish consolidation and a pullback below the $2512 weekly open price followed. In the continuation, the price formed a weekly low at the $2501 level. Pressure is growing on the price of gold to continue its retreat below the EMA 50 moving average and the $2,500 level.

Potential lower targets are $2495 and $2490 levels. For a bullish option, we need a positive consolidation and a return above $2520. Then, gold needs to hold up there to continue the bullish momentum. After that, we expect a test of this morning’s high and the formation of a new one. Potential higher targets are the $2535 and $2540 levels.

 

Silver chart analysis

During this morning’s Asian trading session, the price of silver retreated below the $30.00 level. Support at the weekly open price of $29.80 did not hold back either, but we saw a strong bearish impulse below. The price broke down to $29.30 on the EMA 200 moving average. The decline has been stopped for now, and silver has support here. To return to the bullish side, we need positive consolidation and stabilization of the price above the $29.60 level.

After that, the chances of a further advance to the bullish side increase. Potential higher targets are $29.70 and $29.80 levels. For a bearish option, we need a negative consolidation and a pullback of silver below the EMA 200 moving average. With that, we move to a new weekly low and confirm that we are under a bearish pattern. Potential lower targets are $29.20 and $29.10 levels.

 

The post Gold and silver are making moves towards support levels appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Oil and natural gas: Oil is moving away from the weekly high
next post
NFL owners vote in favor of private equity investment

related articles

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

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

  • Dems torched over DOGE security claims after allowing ‘wide-open’ border, ’empowering Iran’

    February 15, 2025
  • FLASHBACK: Top Harris campaign aide was key voice in WH push to remove COVID info from tech platforms

    August 27, 2024
  • Trump threatens Iran over nukes as DNI Gabbard claims Tehran is not building bombs

    April 1, 2025
  • Traders see the odds of a Fed rate cut by September at 100%

    July 17, 2024
  • With 7 days until voting starts, ‘election season’ kicks off sooner than you think

    August 30, 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 (6,394)
  • Investing (634)
  • Stock (939)

Latest Posts

  • SafeMoon and Litecoin: SafeMoon remains under pressure

    September 3, 2024
  • Musk threatens ‘immediate’ legal action against Apple over alleged antitrust violations

    August 13, 2025
  • Netanyahu goes against doctor’s orders, appears in Israeli parliament after surgery

    December 31, 2024

Recent Posts

  • Erika Kirk honors late husband Charlie in emotional White House tribute: ‘A free man made fully free’

    October 15, 2025
  • Netanyahu shows picture of Bibas family at combat officers’ graduation: ‘Remember what we are fighting for’

    February 23, 2025
  • Schumer coins ‘Trump shutdown,’ slamming GOP amid spending fight

    September 19, 2024

Editor’s Pick

  • US officials see fall of Assad as opportunity to force Iranian regime change

    December 12, 2024
  • House Dem moves to force vote on releasing Gaetz ethics report

    December 3, 2024
  • ‘All the options’: GOP eyes cutting August recess to move dozens of Trump nominees stalled by Dems

    July 21, 2025
  • 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