While buying bulls in decreases, the analyst pointed to the upward price movement for gold and silver. Gold price and silver prices were high in early US transactions on Wednesday. Bulls came into play to buy decreases in metal prices on Tuesday, which is a sign of powerful markets. Gold and Silver as an inflation protection tool continues to be the main element of the main rise in the market. December under December decreased by $ 12.80 at $ 1,866.60, and the December Comex silver was traded at $ 25.205 with the latest $ 0.271 dollars.
Direction up for gold price
Kriptokoin.comAs we have reported as, global exchanges were involved in overnight transactions. When the New York daily session starts, the US stock indices point to mixed openings. The focus of the US stock investors continues to remain on the optimistic company earnings. Nevertheless, the markets are pause due to inflation concerns and concerns about the increasing COVİD-19 cases in Asia and Europe. In the nightly news, the euro zone October consumer price index has increased by 0.8 %and 4.1 %annually compared to September. Meanwhile, the United Kingdom reported the consumer inflation rate as the biggest increase of decades of decades such as 4.2 %on an annual basis. These figures are twice as much as the European Central Bank and the Central Bank of the UK said what they want to see.
Today, important foreign markets see the highest level of 15 months overnight after seeing the highest level of US dollar index. Nymex crude oil prices are lower and trading around $ 80,00 per barrel. The return of 10 -year US Treasury bills is currently 1.628 %. The US economic data, which will be published on Wednesday, includes the weekly MBA mortgage applications survey, new housing constructions and weekly Doe Liquid Energy Stock Report.
Technical indicators
Technically, December Term gold bulls generally provide short -term technical advantages and acceleration. According to the analyst, the daily bar graph has a six -week rise trend. The next upward price target of the bulls is to produce a closing above solid resistance from $ 1,900,00. The next short -term downward price target of the bears is to push futures prices below $ 1,800,00 of solid technical support. The first resistance is seen at $ 1,879.50 and then at $ 1,900.00. The first support is seen at $ 1,851.00, which is the lowest level of this week and then at $ 1,839.00.
Silver bulls generally have a short -term technical advantage compared to the analyst. Prices are in a six -week rise trend in the daily bar graph. The next upward price target of silver bulls is to close the range of futures on the firm technical resistance at $ 26.13 per ounce. The next downward price target for bears is to close prices for $ 23.00 under solid support. The first resistance is seen at $ 25.49 and then at $ 25.75. The next support is seen at $ 24,825, the lowest level of this week and then at $ 24.50.
