Gold & Silver Surge Off Critical Technical Support

As the dollar roller-coasters once again today, tumbling back down after surging in the pre-European overnight session...

Source: Bloomberg

Precious metals are strongly bid, with gold futs at $1870...

(Click on image to enlarge)

And silver futs back above $24.50...

(Click on image to enlarge)

As both gold and silver bounce off critical technical support levels...

200DMA for gold...

(Click on image to enlarge)

Source: Bloomberg

And 50DMA for silver...

(Click on image to enlarge)

Source: Bloomberg

And, as Bitch Gold Group reports, although gold has pulled back from its all-time high of $2,070 that was seen in August, many top banks and forecasters are calling for much higher prices as we move into 2021.

Disclaimer: Copyright ©2009-2020 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every time ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.