
Silver Price Prediction – Silver Loses Near the $22 Level
The silver market initially rose during Monday’s trading session, but the $22 level appears to be acting as a possible resistance barrier.
The silver market initially rose during Monday’s trading session, but the $22 level appears to be acting as a possible resistance barrier.
Natural gas costs increased. In the majority of the United States, cooler-than-normal temperatures are predicted. Compared to the prior week, supply dropped.
The natural gas market first retreated during Monday’s trading session, displaying signals of weakness, but just below the $8.00 level, buyers have reemerged.
Early Tuesday morning, gold futures are practically unchanged after showing a slight increase in the previous session. The steady activity is ascribed to a stable U.S. Dollar after a decline in the currency the previous session propelled dollar-denominated bullion to a two-week high. A decline in U.S. Treasury rates aids in limiting losses.
During Monday’s trading session, gold prices climbed to the 200-day exponential moving average. However, we are beginning to exhibit indications of fatigue.
On Thursday, gold gained more than 1% as the dollar and Treasury rates fell, enhancing the safe-haven appeal of metal in the aftermath of weak U.S. job figures. Spot gold rose by 1.4% to $1,840.97 an ounce, while U.S. gold futures rose by 1.4% to $1,841.2 an ounce.
On Thursday, gold gained more than 1% as the dollar and Treasury rates fell, enhancing the safe-haven appeal of metal in the aftermath of weak U.S. job figures. Spot gold rose by 1.4% to $1,840.97 an ounce, while U.S. gold futures rose by 1.4% to $1,841.2 an ounce.
On Monday, gold fell to a new multi-month low of about $1,787/oz, and the climb higher is anticipated to be challenging. Data from New York’s Empire State Manufacturing (-11.6 against f/c 17) and somewhat lower US Treasury rates helped strengthen gold prices yesterday.
Gold’s price has been bouncing back and forth between levels of support and resistance on a regular basis. XAU/USD has fallen from a high of $1,844.69 to a low of $1,837.73 in the last few days. As of the previous session’s finish, the yellow metal had reached a one-week high.
Gold prices continued to rise after plunging to 3.5-month lows last week. Even though the dollar had reached a two-decade high, it has since weakened … Read more