Gold and silver market update for Thursday April 18 and Friday April 19. Both gold and silver experienced volatility on Thursday and into Friday. Touching a brief high of $1401 in intraday trading, gold began trending down but finished off its low of $1381. Silver experienced an early boost early on but then traded down through the day. By session close, silver was slightly off its low.
Looking at technical charts, gold is still absorbing the impact of the big drop we saw earlier in the week. At this point, $1401 is holding the topside but charts indicate $1425 as the top of any bounce back up. If gold retests its $1323 low and breaks it, it’s possible to see a decline to $1265. Silver is relatively unchanged – $23.92 is considered the topside and $24.33 is considered the top of any potential bounce. Read more…