|

Information

    Homepage   >     Industry    >     Main body

    Gold Prices Surge to 6 year High, Silver Prices Eye Resistance Following Breakout

    Abstract:Gold Prices Surge to 6 year High, Silver Prices Eye Resistance Following Breakout

      Gold & Silver Price Analysis and Talking Points:

    •   Gold Prices Soar, Risks Remain Tilted to Further Upside

    •   Silver Price Outlook | Eyes Topside Resistance Following Breakout

      See our quarterly gold forecast to learn what will drive prices throughout Q3!

      Gold Prices Soar, Risks Remain Tilted to Further Upside

      Gold prices have extended on its bullish uptrend, hitting a fresh 6yr high (highest level since April 2013) as risk off sentiment dictates price action. The latest catalyst stemmed from the rising political unrest within Hong Kong, which in turn saw equity markets head south, while in the EM complex, Argentine assets crashed following the huge upset in the primary election for President Macri. Adding this to the mix of ongoing trade war tensions between the US and China, therefore keeps risks tilted to the upside for the precious metal with the potential for a move towards $1600, particularly as global bond yields continue to drop towards record lows.

      GOLD Technical Levels

      Resistance 1: $1587 (61.8% Fibonacci Retracement)

      Resistance 2: $1600 (Psychological)

      Support 1: $1484 (50% Fibonacci Retracement)

      Support 2: $1450 (Psychological)

      GOLD PRICE CHART: Daily Time-Frame (Sep 2009 - Aug 2019)

    Gold

      What You Need to Know About the Gold Market

      Silver Price Outlook | Eyes Topside Resistance Following Breakout

      Much like gold prices, silver benefit from risk off flows with prices surging over 2% to hit its highest level since January 2018. Consequently, the precious metal is now eying topside resistance situated at $17.54, which marks the 50% fib level from the 2016 peak to 2018 low.

      Silver Price Chart: Daily Timeframe (Sep 2018 – Jul 2019)

    Gold

    Latest News

    United Arab Emirates Dirham

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United Arab Emirates Dirham
    Convertible Amount
    -- United States Dollar
    Warning

    The data of WikiFX all comes from official data of various forex regulatory institution such as FCA,ASIC,etc. These data are all purpose of being fair、objective and realistic,which doesn't ask for any public relations fees, advertising fees, ranking fees, data removing fees and other gray fees.WikiFX will do its best to maintain the consistency and synchronicity of its data with that of authoritative data sources with regulatory authorities, but will not undertake to keep it consistent and synchronized in real time.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Notice: Information provided by WikiFX is only for reference and does not indicate any investment advice. Investors should choose brokers by themselves. The risk involved with brokers is not relevant with WikiFX. Investors shall bear the relevant consequences and responsibilities on his own.

    ×

    Select Country/District