|Day's Range||15.075 - 15.275|
|52 Week Range||15.0750 - 15.2750|
Silver markets fell a bit during the trading session on Thursday but found buyers underneath the $17.00 level. Because of this, there is certainly more of an upward bias in this market and with central bankers meeting in Jackson Hole over the next couple of days, headlines will continue to drive this market.
In this framework, metals are reluctant to take any direction, and now all eyes are on what Fed boss Jay Powell will say in his scheduled speech in Jackson Hole later this week.
Investing.com - Gold prices traded lower on Thursday but remained closely pegged to the $1,500 psychological level as traders shifted their attention to the beginning of the Federal Reserve's annual Jackson Hole Economic Policy Symposium.
The silver market has gone back and forth during the trading session on Wednesday as we continue to wait for some type of clarity when it comes to monetary policy from several central banks around the world. We know that they are all going dovish, the question is how dovish?
XAU/USD is currently trading at 1,501, falling 0.40% in value so far on Wednesday. Technical conditions are suggesting that a potential downtrend is on the making as the MACD did a bearish cross. However, it is still too soon to say it.
Investing.com - Gold prices traded lower on Wednesday as safe-haven demand faltered as risk appetite returned to markets ahead of the minutes from the last Federal Reserve meeting.
The Silver markets have been dancing around the $70.00 level for the last couple of weeks, as we have seen a lot of back and forth trading. Ultimately, silver is bullish but we may be trying to digest the lot of upward momentum before moving forward.
Investing.com - Spot gold recovered the psychological $1,500 level on Tuesday as analysts bet on further support for the precious metal from central banks and falling yields.
Silver markets fell significantly during the trading session on Monday to kick off the week but have found buyers underneath the turn things around and show signs of life again at a large, round, psychologically significant figure.
Gold and silver are trading down on Monday as investors are betting on riskier assets such as equities and currencies. XAU/USD is testing the 1,490 area, while silver is trading below the 17.00 area.
Silver markets went back and forth during the week, as we continue to dance around the $70.00 level. At this point, the market looks very likely to be a bit exhausted, as the $17.00 level has been important more than once.
Silver markets fell rather hard during the trading session on Friday to close out the week but have turned right back around to show signs of support. At this point, the market looks very likely to continue the uptrend but a pullback is possible.
XAU/USD is ready to close positive for the third week in a row. Gold is posting 1.02% gains on the last five days, but the movements are more on a sideways mode above the 1,500 area and contained by the 1,530.
Investing.com - Gold prices dropped on Friday, giving back a small portion of August’s gains, as sovereign debt yields pulled away from historic lows and signs of economic stimulus boosted risk sentiment.
The Silver markets went back and forth during the trading session on Thursday as we continue to see a lot of uncertainty around the world. Quite frankly, the market is now starting to try to get used to the idea of being above $17.
Technical conditions are losing bullish steam, so more consolidation in the XAU/USD is expected. In any case, the market is entirely focused on fundamental factors and concern about the health of the economy is what is moving the assets.
Silver markets went back and forth during the trading session on Wednesday as we continue to dance around the $17.00 level. This is an area that of course attracts a lot of attention so the fact that we are dancing around should not be a huge surprise.
According to experts who watch this event as an indicator, a recession happens, on average, 22 months following the inversion. So, fears about a recession jumped, and risk aversion flooded markets.
Gold probed the upper limit of the resistance band between $1525 – $1550 reaching $1546.10 this morning before falling apart. Futures collapsed to $1488.90 by 10 AM and prices are bouncing. Yesterday’s breakout above $1525, followed by today’s dynamic reversal supports an interim top.
Silver markets were all over the place during the trading session on Tuesday, as word got out that the Americans and the Chinese were going to speak again, and it kicked algo trading into a frenzy.
XAU/USD jumped to trade as high as 1,535 on Tuesday, its highest level since April 2013. But, US CPI is pushing prices down, and it is currently trading at 1,521, 0.66% positive on the day.
Investing.com - Gold prices jumped to fresh six-year highs on Tuesday as plunging bond yields worldwide further boosted the appeal of non-yielding bullion, while geopolitical tension in Hong Kong and Argentina supported demand for the safe-haven precious metal.
Silver markets continue to be very noisy, as we initially fell during the trading session on Monday, but then turned around to reach towards the $16.50 level. This is a market that remains bullish for quite a few different reasons, not the least of which will be central bank meddling.
Technical studies suggest that gold is ready for more gains, but a period of consolidation is needed due to overbought conditions. To the upside, resistance is at the mentioned 1,510. Then, check the 1,530, and the 1,560 for selling zones.
Investing.com - Gold prices turned higher on Monday in response to political unrest in Hong Kong which dampened risk appetite to the benefit of the safe-haven precious metal.