Saudi Arabia Stocks Down 1.58% as Tadawul All Share Falls
October 7, 2024Silver (XAG) Price Prediction: Bearish Trend Emerges, Potential Drop Below $30.88 Looms
October 9, 2024Gold traders are adjusting positions amidst increasing Treasury yields, leading to some weakening of gold prices. However, the technical analysis indicates that gold is currently struggling to surpass the key resistance zone of $2675 – $2685. Silver Pulls Back as Gold/Silver Ratio Rises Silver experiences a retreat as the gold/silver ratio surpasses 83.00, signaling potential downward momentum in the short term. Should silver drop below $31.45, its next target could be the 50-day moving average at $29.51. Platinum Faces Pressure Amid Treasury Yield Growth Platinum is encountering downward pressure due to the uptrend in Treasury yields. To surpass the crucial $1000 threshold, platinum requires positive factors. A decline below $975 may cause it to target the 50-day moving average at $955, ultimately seeking support around $935 – $940. Stay informed about today’s economic calendar and events.