The silver market continues to see a lot of noisy trading, after initially gapping higher, and then dropping. Since then, we have seen a massive number of buyers. Silver is a market that continues to see a lot of volatility.
Ultimately, this is a market where if we can break above the $35 level cleanly, then I think we will go back to the highs and then eventually go much higher than that.
Source – FX EMPIRE / Tech analysis
The metal is showing strong upside potential, with the next target range between $34.87 and $35.40. However, traders should remain cautious as silver is currently well above key support levels at $32.53 and the 50-day moving average at $31.75.
Source – FXEMPIRE
Gold prices were little changed on Wednesday as investors waited for the Federal Reserve’s policy decision and comments from Chair Jerome Powell, while platinum surged to a more than four-year peak.
Spot gold was steady at $3,387.89 an ounce by 1145 a.m. EDT (1545 GMT).
“The prevailing trend of seeking alternative stores of value beyond the U.S. dollar remains strong, driven by a growing desire for assets that are independent of external control,” said Ryan McIntyre, Managing Partner at Sprott Inc.
Spot silver fell 1% to $36.87 per ounce
Platinum added 3.5% to $1,306.68, highest since February 2021.
Source – Reuters
Robert Kiyosaki urges investors to ditch “fake money” and start saving silver, gold, and Bitcoin — calling silver the top asset for the next two months and predicting it could hit $200.
“Silver for the next two months is the best of the three, gold, silver, and Bitcoin,” he said. “Today silver is about $35 an ounce. I believe silver may soon be $70 an ounce this year and $200 in a year or two.”
“The best news is, almost everyone in the world can afford at least 1 silver coin today….but not tomorrow,”
Source – The Street
Robert Kiyosaki – is an American Businessman and author most notably for his “Rich Dad Poor Dad” series of personal finance books.
Gold prices eased on Thursday, pressured by a firmer U.S. dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust Federal Reserve Chair Jerome Powell.
Spot gold was down 0.6% at $3,335.77 per ounce, as of 0958 GMT. U.S. gold futures fell 0.8% to $3,331.30.
“Yesterday, gold prices rose on the back of these rumours, which were unfounded. Since the rumours were quelled, prices have been falling,” said Nitesh Shah, commodities strategist at WisdomTree.
“I think if we come out of (the tariff deadline of) August 1 with much better trade deals, then that could be gold price-negative,” Shah said.
Spot silver fell 0.4% to $37.77 per ounce. Platinum lost 0.3% to $1,412.78 and palladium eased 0.6% to $1,223.03.
Source – Reuters
Silver began the week with modest gains, stabilizing above its 50-day moving average at $32.55—a level now serving as short-term support. The metal also finds backing from a key Fibonacci retracement at $32.19.
Source – FX Empire
Gold’s price (XAU/USD) is jumping higher as buyers dig into the precious metal on Monday, printing several fresh all-time highs above $2,900 at the time of writing.
The Pivot Point level on Monday is the first nearby support at $2,866, followed by the S1 support at $2,846. From there, S2 support should come in at $2,832.
Source – FXStreet
