Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Breaks the Downtrend
January 30, 2024 - (Gold Market Wire) - Gold has broken out of the down trend that has commanded it for the past fortnight. At first blanche a positive development.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/65b8bacdb5ecfab8fb190d11_Screenshot%202024-01-30%20at%2009.57.41.png)
We've had a lot of congestion as of late...about 7 sessions worth...so this is welcome development.
Equally significant, Silver has broken its long term power downtrend.
![](https://assets-global.website-files.com/5d754afa7a6dfa49fd253976/65b906de7c993e5ac6d67c37_Screenshot%202024-01-30%20at%2015.22.58.png)
The end of month approaches. Let's see if we can hold on here.