{"id":211,"date":"2024-08-07T18:04:05","date_gmt":"2024-08-07T18:04:05","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/07\/gold-and-silver-gold-faces-a-new-challenge-at-2400\/"},"modified":"2024-08-07T18:04:05","modified_gmt":"2024-08-07T18:04:05","slug":"gold-and-silver-gold-faces-a-new-challenge-at-2400","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/07\/gold-and-silver-gold-faces-a-new-challenge-at-2400\/","title":{"rendered":"Gold and silver: gold faces a new challenge at $2400"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Gold and silver: gold faces a new challenge at $2400<\/h1>\n<p><span>During this morning\u2019s Asian trading session, the price of gold received support at the $2390 level.<\/span><br \/>\n<span>The price of silver fell to $26.48 on Monday, forming a weekly low.\u00a0<\/span><\/p>\n<h2>Gold chart analysis<\/h2>\n<p><span>During this morning\u2019s Asian trading session, the price of gold received support at the $2390 level. After that, we looked at the initiation of a <a href=\"https:\/\/www.financebrokerage.com\/oil-and-natural-gas-oil-continues-bullish-toward\/\">bullish<\/a> consolidation above $2400. A daily high was formed at $2405, and we are testing the EMA 50 moving average here. If we get support, we can expect to start further growth on the bullish side. Potential higher targets are the $2410 and $2420 levels.<\/span><\/p>\n<p><span>The price of gold could face resistance at $2410 and the EMA 200 moving average before continuing the recovery. We need a negative consolidation and a return to this morning\u2019s support for a bearish option at $2390. The impulse below will form a new low and thus confirm that the price is under pressure to continue to the bearish side. Potential lower targets are $2380 and $2370 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Silver chart analysis<\/h2>\n<p><span>The price of silver fell to $26.48 on Monday, forming a weekly low. Further decline was stopped, and the price started a lateral consolidation. During this morning\u2019s Asian session, the movement took place in the $26.60-$27.20 range. Additional pressure on the upper line of this range is the EMA 50 moving average. We would have to skip that level if we plan to start a bullish consolidation.<\/span><\/p>\n<p><span>Potential higher targets are the $27.40 and $27.60 levels. The 200 EMA is still a little above the $28.00 level. For a bearish option, the price of silver would have to visit support at $27.60 again. The new pressure could easily push the price of silver to a new daily low and thus confirm the bearish momentum. Potential lower targets are the $26.60 and $26.40 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/gold-and-silver-gold-faces-a-new-challenge\/\">Gold and silver: gold faces a new challenge at $2400<\/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 faces a new challenge at $2400 During this morning\u2019s Asian trading session, the price of gold received support at the $2390 level. The price of silver fell to $26.48 on Monday, forming a weekly low.\u00a0 Gold chart analysis During this morning\u2019s Asian trading session, the price of gold received support at [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-211","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\/211","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=211"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/212"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}