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Gold Prices Rose While The Price of Silver Fell

Started by PocketOption, Sep 17, 2022, 04:34 am

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PocketOption

Gold Prices Rose While The Price of Silver Fell

gold and silver

Gold Prices Rose While The Price of Silver Fell



  • Gold prices rose this morning after falling to their lowest level since March 2021 on Thursday.

  • The price of silver today fell below the $19.00 level, finding support at the $18.75 level.


Gold chart analysis


Gold prices rose this morning after falling to their lowest level since March 2021 on Thursday, hit by higher US Treasury yields and a stronger dollar. During the Asian trading session, the price of gold managed to stay above the $1660 level for a while. Then there was a break below, and today’s price minimum is the $1653 level. The price of gold manages to find support here and climb to the $1,668 level, where it encounters new resistance. So now we see a new pullback and a possible continuation of the bearish trend. We need a continuation of the negative consolidation, a break below, and a retest of today’s support zone. Potential lower targets are $1650 and $1640 levels. We need a new positive consolidation and a move above the $1670 level for a bullish option. Potential higher targets are $1680, $1690 and $1700 levels.


Gold chart analysis


Silver chart analysis


The price of silver today fell below the $19.00 level, finding support at the $18.75 level. Additional support at that point is in the MA200 and MA20 moving averages. Yesterday the price of silver failed to hold at the $19.50 level, today at the $19.00 level, and we could see a further retreat first towards the $18.75 and $18.50 levels. For a bullish option, we need better positive consolidation. Then we need to hold above the $19.00 level and start the price recovery with the next bullish impulse. Potential higher targets are 19,254 and $19.50, yesterday’s resistance level.


Silver chart analysis


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