Gold price itching to break higher as silver price touches $29
The gold price has got off to a great start this week and it right at the very top of that trading range that has been going on for nearly 4 months now. A close above $1627 would be gold’s best close since the start of May this year – currently the gold price is $1625.
Gold $:
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It’s a similar story for € gold as that €1300 level keeps holding but struggles every-time we get around €1316.
Gold €:
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In terms of £ gold the price action has been around the £1030 level but we really need to see a close above the £1035 level to get the shorts covering.
Gold £:
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Silver has been outperforming gold so far this week. Silver got a nice 2% bump yesterday and this morning there has been some decent follow-through taking the silver price back to $29 – it’s highest level since mid-June.
Silver $:
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Gold:Silver ratio:
All-in-all a vert tantalizing set-up for gold and silver right now and it wouldn’t take much of a push through in the prices to see this long drawn out range broken one and for all. Watch this space.
Related posts:
- Will a higher oil price break gold out of its range?
- Silver price breaks $34 – now less than a buck from its 200 DMA
- Silver price now up 21% for the year so far
- Silver price holding steady above $30 – now up 10% on the year
- And it’s HIGH-ho silver away – Silver gaps higher to over $44
Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-itching-to-break-higher-as-silver-price-touches-29-7695/
Posted by Declan Cosgrove on Aug 21 2012. Filed under Gold News, Silver News.
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