Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
Silver Pushes Higher
June 10, 2020 - (Gold Market Wire) - Today it's Silver's turn to take the lead while Gold chases, which is pretty much a reversal of yesterday. It's hardly dramatic action, but that's the sign of a sustainable rally.
We closed out the clock fairly weak yesterday, at the minor support at 17.53 (electronic, not COMEX) and rallied on the opening of Asian trade, moving 23 cents higher. The trend is intact and so, the rally continues, for now.
The longer-term channel provides some perspective, and shows the "headroom" for Silver to rally in to.
Gold has been a laggard after leading the way yesterday, but chart-wise has made an interesting (small) gap up.
The gap is an encouraging move, even for a dull European a.m. We await New York, to see what the balance of the day will bring.