Gold and silver prices spike, but can rally last? Jim Wyckoff on the long-awaited bull market

Gold & Silver
[embedded content]

Momentum has shifted back in gold and silver’s favor for now, said Jim Wyckoff, senior market analyst at Kitco News.

“When we last talked, the markets, both gold and silver, were in a near-term price downtrend. Remember, we talked about key support levels that had to hold to keep prices from accelerating to the downside and those key price support levels, technical levels, did indeed hold,” Wyckoff told David Lin, anchor for Kitco News.

On silver, Wyckoff said that the silver market has simply been following gold’s price.

Wyckoff added that this rebound is likely to continue in the short-term.

You Might Like

“The charts suggest that they will [continue moving upward] on a near-term basis. Right now, with the upside breakouts we’ve seen on the daily charts, now the price action we’ve seen in silver, the path of least resistance is sideways to higher,” he said.

Articles You May Like

Democratizing Defi Data- Dechart DAO Launches Version 1.0 Trading Platform
Electronic Transactions Association Proposes 7 Guiding Principles for a Digital Dollar
What Is the Relationship Between Human Capital and Economic Growth?
Germany to loosen restrictions for vaccinated
Reeling from post-hack price slump, Easyfi reveals community compensation plan

Leave a Reply

Your email address will not be published. Required fields are marked *