Gold and silver: Gold is falling this morning to the $1985
- During the Asian trading session, the price of gold stayed above the $2000 level.
- During the Asian trading session, the price of silver consolidated around the $25.30 level.
Gold chart analysis
During the Asian trading session, the price of gold stayed above the $2000 level. After that, there was a fall and a pullback until the $1980 level. For now, we are holding a little above the $1985 level despite increased bearish pressure. The price could easily slip below the $1980 level and form today’s low. Potential lower targets are the $1975 and $1970 levels. If we think on the bullish side, we need a positive consolidation and a return above the $2000 level. Then we need to hang in there and try to continue the recovery. Potential higher targets could be $2010 and $2020 levels.
Silver chart analysis
During the Asian trading session, the price of silver consolidated around the $25.30 level. We failed to hold up there, and the price is starting to pull back to the $25.00 level. For now, we remain above that level. We need a negative consolidation and a drop below the $25.00 support level for a bearish option. In the following, we will visit the previous low at the $24.62 level. If by some chance, the price of silver were to consolidate and return above the $25.30 level, then we would probably see a continuation of the price recovery. Potential higher targets are the $25.40 and $25.50 levels.
