|Day's Range||15.075 - 15.275|
|52 Week Range||15.0750 - 15.2750|
Investing.com - Stocks were waiting on Monday for the second-quarter earnings season to shift into high gear.
Silver markets went back and forth during the trading on Monday, but ultimately settled on bullish pressure. At this point we are essentially in the middle of the silver market range, as the point of control for the last 30 days is at roughly $15.275 or so.
Gold is currently moving in a small range between 1,410 and 1,420; the unit is 0.08% negative at 1,415. Technical indicators don’t show much upside potential for now. On the bigger picture, gold is trading sideways between 1,385 and 1,440.
Investing.com - Gold prices headed higher on Monday as a boost in risk appetite from generally positive economic data was insufficient to derail demand in an environment marked by decreasing yields.
Silver markets rallied during the week, bouncing from the $15.00 level. That’s an area that obviously has a lot of psychological importance attached to it, but quite frankly the fact that we have uncertainty of the global markets to blame it on the choppiness.
Investing.com - Gold prices moved higher Friday, easily shaking off a stronger-than-expected reading for producer price inflation in June.
Investing.com - Gold prices pulled away from the psychological $1,400 level ahead of Federal Reserve Chairman Jerome Powell’s semiannual monetary policy report to Congress.
Investing.com - Gold prices fell for a third straight session on Tuesday after Federal Reserve chairman Jerome Powell said nothing in a brief speech to stop traders dialing back their expectations of interest rate cuts.
Silver markets went back and forth during the day on Monday, as we are at a major technical level. That being the case, we will probably need to wait for some type of impulsive move to join other traders.
XAUUSD is now moving at 1,404, 0.35% positive on the day. Technical indicators suggest more room for the downside, but the chart pattern is showing robust middle-term support at 1,380.
Investing.com - Gold prices headed lower on Monday, as doubts about the Federal Reserve's willingness to cut interest rates stopped the safe haven metal from taking advantage of further signs of global economic weakness.
Silver markets tried to rally to the $15.50 level, but then turned around to break down to the $15.00 level. That is a pretty significant move, but we are sitting on support as well.
Silver markets broke rather hard to the downside during the day on Friday after the jobs number came out hotter than anticipated. Because of this, people begin to worry about the Federal Reserve and whether or not it would cut interest rates, thereby sending the US dollar higher.
The metal is consolidating levels between 1,410 and 1,425 as the unit remains slightly bullish, but a firm dollar is holding the metal at current levels. All focuses are now in the employment report.
Silver markets drifted a little bit lower during the trading session on Thursday as traders were more focused on the fact that it was Independence Day. That being the case, liquidity was an issue but what’s more important is that we have tested the bottom of the gap again and held.
On Thursday, gold extended declines until it found support at the mentioned 1,410. It is now trading 0.26% negative at 1,415.
Investing.com - Gold prices traded slightly lower in holiday-thinned trade on Thursday but remained supported by expectations for central bank easing ahead of the U.S. employment report.
Silver markets went back and forth during the day on Wednesday, after initially gapping higher. At this point, it is a relatively neutral candle stick, but at this point it’s also already filled the gap, so at this point it just shows a lot of volatility.
Although technical studies suggest more declines in the middle term, chart pattern still shows a bullish consolidation above the 1,380 area with the 1,440 level acting as a container.
Silver markets filled the gap during the trading session on Tuesday, as we continue to see a lot of volatility in this market. We are hovering around the 200 day EMA so that obviously is something to pay attention to.
The market is expecting a slow and long week as the United States will be on vacation from Wednesday night until the weekend as the Fourth of July day will be on Thursday.
Investing.com - Gold prices on Tuesday clawed back a portion of the territory lost at the start of the week after the U.S. and China declared a trade truce, but remained below $1,400.
This past weekend was full of exciting news and information. Combine this with the strong US economic activity, the potential for some type of reprieve in the US/China trade issues and the historic meeting in North Korea between President Trump and Kim Jun Un, and the markets were set up for a big move at the open of trading in Tokyo.
Silver markets initially fell during the trading session on Monday but found support at the top of the gap that had formed a couple of weeks ago. With that, it looks as if the markets are ready to continue to go higher over the longer-term.