- Gold and silver prices are are solidly higher in midday U.S. trading Tuesday, on corrective bounces and some perceived value buying following recent selling pressure. A lower U.S. dollar index and a dip in U.S. Treasury yields on this day also favor the metals market bulls. June gold was last up $16.00 at $2,023.00 and May silver was up $0.262 at $25.355.
Global stock markets were mixed to higher overnight. U.S. stock indexes are mixed at midday. The U.S. stock indexes are still in price uptrends on the daily bar charts and not far below their highs for this year. Risk aversion has receded the past couple weeks as the banking turmoil has simmered down.
Technically, June gold futures bulls have the solid overall near-term technical advantage. Prices are in a five-week-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at the April high of $2,063.40. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the April low of $1,965.90. First resistance is seen at this week’s high of $2,028.00 and then at $2,050.00.
What's that, a pump for ants? Significant move above 2k or it didn't happen.
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Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »