Gold price up on short covering

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.and silver prices are firmer in early U.S.

The key outside markets today see the U.S. dollar index slightly lower. Nymex crude oil prices are slightly down and trading around $77.25 a barrel. The yield on the benchmark 10-year U.S. Treasury note is presently fetching 4.276%. The silver bears have the overall near-term technical advantage. Silver bulls' next upside price objective is closing March futures prices above solid technical resistance at the February high of $23.56. The next downside price objective for the bears is closing prices below solid support at the February low of $21.975. First resistance is seen at $23.00 and then at $23.20. Next support is seen at this week’s low of $22.455 and then at $22.00. Wyckoff's Market Rating: 3.5.

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