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Thursday 5 July 2018

Gold is pushed up from its bottom

At the beginning of the week, platinum fell momentarily below the psychological limit of $800 per ounce. But there was a fast return, and early this morning, the "white metal" was trading at 840 dollars per ounce.
Gold also recovered substantially from its decline on Monday when it reached the lowest value of $1 236 per ounce. Earlier today, precious metal was traded at levels of $1 254 per ounce.
The big loser is silver, although the metal was also the one that dropped at least during the precious metal fall at the beginning of the week.
Silver has returned at levels of trade above the psychological limit of 16 dollars per ounce, but faces difficulties for further growth. Serious resistance is at the level of $16.10 per ounce.
Down below, silver should not fall below the bottom of November last year at $15.60 an ounce. If this happens, the prospects for the appreciation of the metal will fall seriously. On the other hand, witnessing the acceleration of silver growth can only be achieved with a sustained return of more than 16.20 dollars per ounce.


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