3:58 PM · 14 October 2020

📈 Gold and silver erase yesterday’s losses

During today’s session one might spot a rebound on precious metals markets which were under sellers’ pressure yesterday. Gold was gaining over 1% today while silver was adding 1.5%. Weaker USD supports precious metals markets sentiment. As far as technical analysis is concerned, silver prices managed to rebound from key support level at $23.9. Currently bulls are struggling with resistance near $24.5. Should market participants break above, an upward move might accelerate.

Silver, H1 time frame. Source: xStation5

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