{"id":3704,"date":"2024-10-16T18:03:21","date_gmt":"2024-10-16T18:03:21","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/16\/gold-and-silver-gold-in-a-bullish-rally-this-morning\/"},"modified":"2024-10-16T18:03:21","modified_gmt":"2024-10-16T18:03:21","slug":"gold-and-silver-gold-in-a-bullish-rally-this-morning","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/16\/gold-and-silver-gold-in-a-bullish-rally-this-morning\/","title":{"rendered":"Gold and Silver: Gold in a bullish rally this morning"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Gold and Silver: Gold in a bullish rally this morning<\/h1>\n<p><span>The price of gold rose to $2,669 last night, forming a new high<\/span><br \/>\n<span>During this morning\u2019s Asian trading session, the price of silver was in a bullish consolidation<\/span><\/p>\n<h2>Gold chart analysis<\/h2>\n<p><span>The price of gold rose to $2,669 last night, forming a new high. After that, we fell into a sharp sideways consolidation. During this morning\u2019s Asian trading session, the price gained a new bullish momentum and broke above the $2670 level. We continued to $2677, and a weekly high was formed. Currently, gold is at $2676 and is close to climbing to a new weekly high. Potential higher targets are $2680 and $2685 levels.<\/span><\/p>\n<p><span>For a bearish option, the price of gold must first initiate a bearish <a href=\"https:\/\/www.financebrokerage.com\/ethereum-consolidates-for-new-targets-and-prices-wednesday\/\">consolidation<\/a> back to the $2665 support zone. If the support does not hold and the bearish momentum increases, we expect to see a further pullback below the daily open level. Below, we will have the opportunity to test the weekly open level in order to stay positive. Potential lower targets are $2655 and $2650 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Silver chart analysis<\/h2>\n<p><span>During this morning\u2019s Asian trading session, the price of silver was in a bullish consolidation. In the EU session, the price continued to rise to a new weekly high of $31.80. We managed to break above the $31.60 resistance zone and above Friday\u2019s high. Everything indicates that there are good chances to see further recovery on the bullish side. Potential higher targets are $32.00 and $32.20 levels.<\/span><\/p>\n<p><span>For a bearish option, we expect the price of silver to pull back below $31.60 and test the weekly open level. This time, we need a break below and a price drop to the downside. Such a move will increase pressure on the price to continue its pullback down to the EMA 200 moving average at $31.20. Thus, we move to a new daily low and confirm the bearish momentum. Potential lower targets are $31.00 and $30.80 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/gold-and-silver-gold-in-a-bullish-rally-this-morning\/\">Gold and Silver: Gold in a bullish rally this morning<\/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 in a bullish rally this morning The price of gold rose to $2,669 last night, forming a new high During this morning\u2019s Asian trading session, the price of silver was in a bullish consolidation Gold chart analysis The price of gold rose to $2,669 last night, forming a new high. After [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3704","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\/3704","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=3704"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3705"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}