{"id":1779,"date":"2024-09-04T18:04:19","date_gmt":"2024-09-04T18:04:19","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/09\/04\/gold-and-silver-gold-continues-to-pull-back-today\/"},"modified":"2024-09-04T18:04:19","modified_gmt":"2024-09-04T18:04:19","slug":"gold-and-silver-gold-continues-to-pull-back-today","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/09\/04\/gold-and-silver-gold-continues-to-pull-back-today\/","title":{"rendered":"Gold and Silver: Gold continues to pull back today"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Gold and Silver: Gold continues to pull back today<\/h1>\n<p><span>Since the beginning of this week, the price of gold has been retreating<\/span><br \/>\n<span>The price of silver retreated to a new weekly low yesterday at the $27.69 level<\/span><\/p>\n<h2>Gold chart analysis<\/h2>\n<p><span>Since the beginning of this week, the price of gold has been retreating. During this morning\u2019s Asian trading session, a new two-week low was formed at the $2471 level. This was followed by a quick recovery up to the $2490 level. We currently have <a href=\"https:\/\/www.financebrokerage.com\/the-dollar-index-has-been-moving-steadily-this-week\/\">resistance<\/a> here, and the price has slowed further progress. We need to continue the bullish momentum in order to move above the daily open price.<\/span><\/p>\n<p><span>If we succeed in this, the chances of further recovery increase. Potential higher targets are the $2495 and $2500 levels. This week\u2019s major resistance is the EMA 200 moving average, and today, it awaits us at the $2500 level. For a bearish option, gold would have to initiate a new bearish consolidation. After that, we expect a return to this morning\u2019s low. This time, we would have to break below and form a new low. Potential lower targets are the $2470 and $2465 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Silver chart analysis<\/h2>\n<p><span>The price of silver retreated to a new weekly low yesterday at the $27.69 level. Since then, the price has moved in the $27.80-$28.00 range. We are currently seeing pressure on the upper level of this range and expect to see a breakout above. At $28.20, we will try to move above the EMA 50 moving average so that we can more easily start a further recovery on the bullish side.<\/span><\/p>\n<p><span>Potential higher targets are the $28.40 and $28.60 levels. A significant resistance zone is at the weekly open price of $28.85 with the EMA 200 moving average. For a bearish option, we need a negative consolidation and a new descent below the $27.80 level. With this, we attack yesterday\u2019s low and increase the chances of forming a new lower minimum. Potential lower targets are the $27.60 and $27.40 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/gold-and-silver-gold-continues-to-pull-back-today\/\">Gold and Silver: Gold continues to pull back today<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gold and Silver: Gold continues to pull back today Since the beginning of this week, the price of gold has been retreating The price of silver retreated to a new weekly low yesterday at the $27.69 level Gold chart analysis Since the beginning of this week, the price of gold has been retreating. During this [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1780,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1779","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=1779"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/1780"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=1779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=1779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=1779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}