Gold and Silver: Gold in retreat with the start of the week

<div><img width="1200" height="800" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/03/gold-4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="gold" decoding="async" loading="lazy" /></div><h1><b>Gold and Silver: Gold in retreat with the start of the week</b></h1>
<ul>
<li aria-level="1">Last week, we saw the price of gold jump by $100, from $1832 to $1932, at the close of the US market on Friday.</li>
<li aria-level="1">During the Asian trading session, the price of silver slightly retreated from $22.70 to $22.50.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>Last week, we saw the price of gold jump by $100, from $1832 to $1932, at the close of the US market on Friday. During this morning’s Asian trading session, the price of gold started a retreat with the formation of today’s low at the $1908 level. Gold manages to get support there and makes a slight <a href="https://www.financebrokerage.com/apecoin-and-akita-inu-a-slight-recovery-and-consolidation/">recovery</a> to the $1914 level. If this consolidation continues, we could see price growth up to $1920. Potential higher targets are the $1925 and $1930 levels.</p>
<p>For a bearish option, we need a negative consolidation and a drop below today’s support at the $1908 level. After that, we would see the formation of a new low and could initiate a further pullback. Potential lower targets are $1900 and $1890 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-233574 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/fEmE9fP3-1024×620.jpg" alt="Gold chart analysis" width="1024" height="620" /></p>
<h2><b>Silver chart analysis</b></h2>
<p>During the Asian trading session, the price of silver slightly retreated from $22.70 to $22.50. We are now consolidating around that level and waiting for the next move in the silver price. A break below would lead to the formation of a new low and thus strengthen the bearish option, which could have a negative impact on the price. Potential lower targets are $22.20 and $22.00 levels.</p>
<p>Additional support for the price in the zone around $22.00 was provided by the EMA50 moving average. For a bullish option, we need a positive consolidation and a return up to the $22.70 level from the beginning of the day. A break above would be very beneficial, which could initiate a further rise in the price of silver. Potential higher targets are $22.80 and $23.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-233575 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/uXmeagpP-1024×620.jpg" alt="Silver chart analysis" width="1024" height="620" /></p>
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