{"id":4033,"date":"2024-10-23T12:03:59","date_gmt":"2024-10-23T12:03:59","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/23\/gold-and-silver-the-bullish-trend-continues-for-gold\/"},"modified":"2024-10-23T12:03:59","modified_gmt":"2024-10-23T12:03:59","slug":"gold-and-silver-the-bullish-trend-continues-for-gold","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/23\/gold-and-silver-the-bullish-trend-continues-for-gold\/","title":{"rendered":"Gold and silver: the bullish trend continues for gold"},"content":{"rendered":"
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Gold and silver: the bullish trend continues for gold<\/h1>\n

On Tuesday, October 22, the price of gold rose to a new all-time high of $2748<\/span>
\nThe price of silver continued this week with the previous strong bullish consolidation<\/span><\/p>\n

Gold chart analysis<\/h2>\n

On Tuesday, October 22, the price of gold rose to a new all-time high of $2748. During the EU session, the price was consolidated around $2730; in the US session, we saw the strengthening of the bullish momentum to a new high. Yesterday\u2019s high was broken, indicating that we should continue on the bullish side. Potential higher targets are $2750 and $2760 levels.<\/span><\/p>\n

If we see a reduction in the momentum<\/a> of the rising trend, the price of gold will first return to the $2730 support zone, where the EMA 50 moving average awaits us. This time, we expect a break below and a strengthening of the bearish picture. After that, it remains to go down to $2720 and test the weekly open level to stay on the positive side. The impossibility of the price to gain new support there will increase the bearish pressure and form a new low. Potential lower targets are $2710 and $2700 levels.<\/span><\/p>\n

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Silver chart analysis<\/h2>\n

The price of silver continued this week with the previous strong bullish consolidation. On Tuesday, October 22, the price climbed to $34.86, a new multi-year high. We expected resistance and a bullish trend to soften at $34.00, but the price continued to rise. For now, everything remains bullish, and we hope for a continuation of the silver price on the bullish side. Potential higher targets are $35.00 and $35.50 levels. $35.00 could be a strong psychological level for investors in this precious metal.<\/span><\/p>\n

For a bearish option, silver would have to initiate a bearish consolidation down to the $34.00 level. Here, we hope for greater pressure on the price of silver to fall below the weekly open level of $33.77. Crossing on the negative side will further strengthen the bearish momentum, and silver must look for a new support level. Potential lower targets are $33.50 and $33.00 levels.<\/span><\/p>\n<\/p>\n

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The post Gold and silver: the bullish trend continues for gold<\/a> appeared first on FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Gold and silver: the bullish trend continues for gold On Tuesday, October 22, the price of gold rose to a new all-time high of $2748 The price of silver continued this week with the previous strong bullish consolidation Gold chart analysis On Tuesday, October 22, the price of gold rose to a new all-time high […]<\/p>\n","protected":false},"author":0,"featured_media":4034,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4033","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\/4033","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=4033"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/4033\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/4034"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=4033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=4033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=4033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}