Gold and Silver: Gold is holding above the $1940 level.

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2023/03/gold-3-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="gold" decoding="async" loading="lazy" /></div><h1><b>Gold and Silver: Gold is holding above the $1940 level.</b></h1>
<ul>
<li aria-level="1">During the Asian session, the price of gold consolidated around the $1940 level.</li>
<li aria-level="1">During the Asian trading session, the price of silver continued its retreat, testing support at the $24.10 level.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>During the Asian session, the price of gold consolidated around the $1940 level. After that, we see a jump to the $1946 level, where we encounter resistance and make a new pullback to 1942$ level. We could test the $1940 level of support again and maybe see a breakout below and the formation of a new low. Potential lower targets are $1935 and $1930 levels.</p>
<p>We need a positive consolidation and a break above $1946 today’s resistance level for a bullish option. Then, we should maintain ourselves up there and start with a new impulse to continue the <a href="https://www.financebrokerage.com/gas-prices-fueling-europes-economic-recovery/">recovery</a>. After that, we look at $1952, last week’s high, as the next resistance for the bullish option. Potential higher targets are $1955 and $1960 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-223387 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/09/prz4G4bU-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 continued its retreat, testing support at the $24.10 level. Chances are high that we will see a breakout below and the formation of a new weekly low. Additional pressure on the price is created by the EMA50 in the zone around the $24.20 level. Potential lower targets are $24.00 and $23.80 levels.</p>
<p>We need a new positive consolidation and a jump to the $24.40 level for a bullish option. Thus, we would skip today’s high and form a new one. We would also receive support in the EMA50 moving average, which could have a positive impact on further recovery. Potential higher targets are $24.60 and $24.80 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-223389 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/09/nEjvOR35-1024×620.jpg" alt="Silver chart analysis" width="1024" height="620" /></p>
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