This article examines the near-term outlook for gold and silver prices, analyzing the fundamental and technical factors that could guide the trajectory of these key precious metals.
However, gains in both metals were capped by the movement in bonds. Yields have trended lower over the past week, but in today's session, they experienced a strong rally, especially those on the back end, thereby limiting the upside for XAU/USD and XAG/USD.
Turning back to gold and silver, their near-term prospects will likely depend more on the dynamics of monetary policy, the broader Acquire the knowledge needed for maintaining trading consistency. Grab your "How to Trade Gold" guide for invaluable insights and tips! After selling off in recent days, silver appears to have stabilized around trendline support at $22.65. If prices manage to rebound sustainably from current levels, technical resistance is located at $23.35, just around the 200-day simple moving average. Upside clearance of this ceiling could rekindle bullish momentum, paving the way for a retest of the psychological $24.00 level.
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