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16 Aug 2013
Gold held at 1365 resistance, silver testing 23.00
FXstreet.com (New York) - Precious metals have clung to their gains Friday, held by respective resistances that have retraced off of earlier highs.
Gold testing 1365 resistance
Gold prices initially broke the 1365 resistance and traded as high as 1373 earlier today, though during US trading prices have retreated back to 1365. Despite this easing however, the bullish momentum remains strong, and accordingly a bullish scenario is still maintained. At the time of writing, gold prices are trading at USD $1365.35 per oz. Friday.
Silver testing 22.00
Silver breached the 23.00 level earlier today, trading in the heights of 23.27 (daily high) before an easing back towards the 23.00 resistance. Ultimately the technicals still support a push higher, with the MACD in positive territory supporting the bullish wave, and the possible breakout continues to be effective. The price of silver has now moved to USD $23.05 per oz. during US trading.
Gold testing 1365 resistance
Gold prices initially broke the 1365 resistance and traded as high as 1373 earlier today, though during US trading prices have retreated back to 1365. Despite this easing however, the bullish momentum remains strong, and accordingly a bullish scenario is still maintained. At the time of writing, gold prices are trading at USD $1365.35 per oz. Friday.
Silver testing 22.00
Silver breached the 23.00 level earlier today, trading in the heights of 23.27 (daily high) before an easing back towards the 23.00 resistance. Ultimately the technicals still support a push higher, with the MACD in positive territory supporting the bullish wave, and the possible breakout continues to be effective. The price of silver has now moved to USD $23.05 per oz. during US trading.