|Day's Range||16.31 - 16.485|
|52 Week Range||16.309994 - 16.485003|
Silver markets fell during the bulk of the week but did see some resiliency on Friday to turn things around of form a hammer. The hammer is showing signs of support at the bottom of a consolidation area, so it makes sense that we could bounce from here to continue the overall sideways action longer-term.
Silver markets rallied a bit during the day on Friday, as the value hunters came back into the markets. Beyond that, the US dollar softened a bit, so that also has helped with the resiliency of this market. However, there is a significant resistance barrier just above.
Investing.com – Gold prices remained close to their lowest level this year as a weaker dollar failed to stoke appetite for the yellow metal.
Gold prices were modestly higher on Friday but remained at a six-month low as the dollar fell and trade tensions waned. Comex gold futures for August delivery were up 0.02% to $1,270.80 a troy ounce as of 10:31 AM ET (14:31 GMT). Tensions between the U.S. and its allies remained on the back of investors minds, as the European Union imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, jeans, and whiskey.
The gold prices continue to trade weak reaching towards the $1260 level in yesterday’s session. The silver prices were slightly weak during the yesterday’s session hovering around the $16.25 level, which is an important support level. The crude oil prices continued to remain volatile during the yesterday’s session as it is awaiting the OPEC meeting undergoing in Vienna.
Comex gold futures for August delivery were down 0.02% to $1,270.30 a troy ounce as of 4:41 AM ET (8:41 GMT). Tensions between the U.S. and its allies continue, as India joined China and the European Union in retaliation against steel and aluminum tariffs. Meanwhile the European Union imposed tariffs on about $3.4 billion of U.S. imports on Friday, including motorcycles, orange juice and cranberry sauce.
Gold’s U-turn from $1261-60 horizontal-support can’t be termed as a sign of its reversal unless it clears the support-turned-resistance, at $1274, on a daily closing basis. Should the yellow metal manages to surpass $1274, the $1284 and the $1288 are likely intermediate halts that it can avail ahead of targeting the $1300 round-figure; though, 50-day & 200-day SMA confluence, near $1305, may confine the Bullion’s advances past-$1300. ...
Silver markets went back and forth during the day on Thursday, bouncing around the $16.25 level. The market continues to be very noisy as we have seen over the last several days, and this is typical for Silver markets as they are very volatile.
Gold prices remained at six-month lows on Thursday, as trade tensions between the U.S. and China resurfaced. Comex gold futures for August delivery were down 0.46% to $1,268.60 a troy ounce as of 10:57 AM ET (14:57 GMT). Tensions between the U.S. and China continue, as the two largest economies in the world faced a tit-for-tat over trade tariffs.
The gold prices were mostly stable during the Wednesday’s session hovering around the $1275 level. The market has fallen hard in the last couple of session and is likely to continue weak until it gains significant momentum to continue higher. The silver market was stable during the yesterday’s session hovering around the $16.25 level which is also one of the major support levels.
Silver markets were relatively flat during the day on Wednesday as we continue to wait to see whether global trade and global fears continue to strengthen. If they do, it will have a great influence on the silver market.
Investing.com – Gold prices hovered above session lows Wednesday as fears of a full-blown trade war between the U.S-China eased, sending U.S. bond yields higher, hurting demand for safe-haven gold.
Gold prices were steady at a six-month low on Wednesday, as the greenback rose and trade tensions waned. Comex gold futures for August delivery were down 0.20% to $1,276.10 a troy ounce as of 10:38 AM ET (14:38 GMT). Trade tensions between the U.S. and China eased but still remained on the back of investors minds, as the two largest economies in the world faced a tit-for-tat over trade tariffs.
Investing.com – The growing threat of an all-out trade-war between the U.S. and China drew a muted reaction in gold prices as the dollar rally kept a lid on demand for the yellow metal.
Gold prices were modestly lower on Tuesday, pressured lower by a rising U.S. dollar while trade tensions lingered. Comex gold futures for August delivery were down 0.23% to $1,277.20 a troy ounce as of 10:08 AM ET (14:08 GMT). Trade tensions between China and the U.S. continued, as the two largest economies in the world faced a tit-for-tat over global trade tariffs.
The gold prices moved back and forth during the Monday’s session as traders trying to mark their entry after the weekend and also after the huge fall. The $16.25 level underneath will be the next major support level. The crude oil prices spiked higher during the yesterday’s session breaking above the $65 level and beyond.
Silver markets were very choppy during the trading session on Monday, as we returned from the weekend. We are sitting above the vital $16.50 level and catching her breath after a major meltdown on Friday. So the question now is whether we get more of the same selling pressure, or are we trying to find our footing?
Investing.com – Gold prices rose modestly as the U.S. dollar remained flat against its rivals and rising U.S.-China trade tensions fuelled investor appetite for safe-haven gold.
Comex gold futures for August delivery were up 0.21% to $1,281.20 a troy ounce as of 10:28 AM ET (14:28 GMT). On Friday U.S. President Donald Trump announced a 25% tariff on 818 different Chinese goods worth $34 billion beginning on July 6. The two largest economies in the world have been in a tit-for-tat over global trade tariffs in recent months as the two struggle to reconcile their trade differences.
The gold prices broke down significantly during the Friday’s session breaking through the major uptrend line that extends from late 2016. The market is expected to continue volatile as people are concerned about the potential trade wars. The silver prices broke off significantly during the Friday’s session reaching $16.50 level on the back of intensifying trade wars and US dollar gained some strength as money flowed into the treasury market after the announcement of new tariffs.
Silver markets initially rallied significantly during the week, reaching towards the $17.50 level, but have rolled over rather drastically, forming a massive shooting star. This shows just how much uncertainty there is out there, and as money flows to the US dollar, it flows away from the Silver markets. However, even with the negativity of this candle for the week, we are still within the overall range.