Gold eyes new record high
It has been a positive day so far for precious metals with gold and silver both rising thanks to an improving risk appetite following the mini turmoil last Monday.
Gold's ability to surpass the shaded grey zone on the chart, which ranges from $2431 to $2450 and represents the highs from April and May, indicates that a new all-time high above July's peak of $2483 seems likely.
If gold achieves this new high, i think this will positively influence silver's price action. See the link below for what I think silver might do next.
By Fawad Razaqzada, market analyst at FOREX.com
Gold's ability to surpass the shaded grey zone on the chart, which ranges from $2431 to $2450 and represents the highs from April and May, indicates that a new all-time high above July's peak of $2483 seems likely.
If gold achieves this new high, i think this will positively influence silver's price action. See the link below for what I think silver might do next.
By Fawad Razaqzada, market analyst at FOREX.com
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