• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Gold and Silver: Gold price retreats on Friday below $
Economy

Gold and Silver: Gold price retreats on Friday below $

by September 27, 2024
by September 27, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Gold and Silver: Gold price retreats on Friday below $2670

After the price of gold climbed to a new all-time high yesterday, we saw a pullback to the $2655 support level
Yesterday, the price of silver failed to maintain the zone of the weekly high of $32.70

Gold chart analysis

After the price of gold climbed to a new all-time high yesterday, we saw a pullback to the $2655 support level. The price at that level gets support again and starts a recovery, but this time only up to the $2678 level. During this morning’s Asian session, the price initiated a bearish consolidation to $2660, where it will test the EMA 50 moving average. If the support does not withstand the current pressure, gold will have to make a move below to a new daily low.

Potential lower targets are the $2650 and $2640 levels. For a bullish option, we hope that the price will manage to hold above the EMA 50 and $2660. Then, from there, we need another bullish consolidation to start the gold price rally. A jump above $2675 would be a good indication that we are back on the bullish path. Potential higher targets are the $2690 and $2700 levels.

 

Silver chart analysis

Yesterday, the price of silver failed to maintain the zone of the weekly high of $32.70. A pullback was initiated, and the price slipped below the $32.00 level. During this morning’s Asian trading session, the decline continued to $31.56, a two-day low. The EMA 50 moving average is now on the bearish side, putting further pressure on silver to continue its retreat. Potential lower targets are the $31.40 and $31.20 levels.

More serious price support is on the $31.20 weekly open level with the EMA 200 moving average. If we manage to get back above the EMA 50 and the $32.00 level, it would mean that the price is starting a new bullish momentum. A return above the daily open level to the positive side would mean a lot to us. Potential higher targets are the $32.20 and $32.40 levels.

 

The post Gold and Silver: Gold price retreats on Friday below $ appeared first on FinanceBrokerage.

You Might Also Like
  • Far left wants to crush PayPal, Zelle and you can take that to the bank
  • Texas judge hearing abortion pill case appointed by Trump, revered by conservatives
  • John Kerry scorched for misleading on private jet use: ‘Democrats’ standard of hypocrisy’
  • House bill would pay rural telecoms to ditch China-tied tech seen as spying risk: ‘rip and replace’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
EURUSD and GBPUSD: Euro under pressure drops below
next post
Bitcoin and Ethereum: Bitcoin increasingly safe above

You may also like

Biden’s push to regulate new tech is ‘misguided,’ expert warns

January 30, 2024

New York City spent $50K to send migrants to Florida,...

June 25, 2023

Republican Rep. Jim Banks scores major endorsement for Senate run...

September 27, 2023

Wisconsin will consult voting experts in rewriting poll watcher rules

February 3, 2023

White House doubles down on hosting staff party as Israel...

October 10, 2023

GOP presidential candidate Nikki Haley pledges to cut billions in...

February 26, 2023

Green groups targeting blue-collar lobstermen are largely funded by dark...

February 6, 2023

New Mexico Democrat governor’s sweeping gun order hits major temporary...

September 14, 2023

Biden admin questioned over abortion pill push without proper environmental...

May 29, 2024

How and where to watch Donald Trump’s town hall with...

December 6, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Trial for ex-FBI informant accused of...

    April 17, 2024

    Legal experts say Jack Smith’s runway...

    March 1, 2024

    Attorney General Merrick Garland to testify...

    September 20, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here