Hello fellow steemit metal traders,a quick recap of price movement.
GOLD
After hitting a high of 1258.58 on the 24th,the bears are getting a bit on gold, declining 0.4% against the USD and closed at USD1248.92 per ounce, amid strength in global equity markets. Asian session,saw the pair trading opening at 1250.47, higher against the USD from yesterday’s close, curret rice now is 1247.50.With investors looking forward to the outcome of the Fed’s interest rate decision and to get hints on the central bank’s monetary policy outlook.
The pair is expected to find support at 1249.53,though presently broken and a fall through could take it to the next support level of 1245.2667. The pair is expected to find its first resistance at 1261.13, and a rise through could take it to the next resistance level of 1268.47.The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
SILVER
Silver traded flat against the USD and closed at USD16.46 per ounce.
Asian session, the pair is trading opend at 16.45,with a daily low of 16.26. Silver trading 0.33% lower against the USD from yesterday’s close.The pair is expected to find support at 16.22, and a fall through could take it to the next support level of 16.03. The pair is expected to find its first resistance at 16.60, and a rise through could take it to the next resistance level of 16.79.The white metal is trading below its 20 Hr and 50 Hr moving averages.
Your contributions and comments on present and future prices are welcome and much appreciated.
To Your Success..............