Gold and silver: Gold jumped above $1980 yesterday

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/11/Gold-Price.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Gold Price" decoding="async" loading="lazy" /></div><h1><b>Gold and silver: Gold jumped above $1980 yesterday</b></h1>
<ul>
<li aria-level="1">The price of gold jumped to the $1987 level yesterday, forming a new two-month high there.</li>
<li aria-level="1">Silver prices begin to retreat after the jump to the $25.26 level and the formation of a new high.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>The price of gold jumped to the $1987 level yesterday, forming a new two-month high there. After that, there was saturation at that level, and the price started a pullback. Yesterday’s pullback was to the $1965 level, and during the Asian session, we saw a recovery to the $1974 level. In today’s EU session, gold begins a new retreat to the $1961 level.</p>
<p>Additional support in that zone is the EMA50 moving average. If the price breaks below, potential lower targets are $1955 and $1950. We need a positive consolidation and a move from the $1970 level for the <a href="https://www.financebrokerage.com/bitcoin-and-ethereum-and-a-new-attempt-for-bullish-option/">Bullish option</a>. Then we need to try to keep up there. After that, we can expect to continue the growth, with potential targets at the $1975 and $1980 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-213278 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/2Qlm30Kt-1024×621.jpg" alt="Gold chart analysis" width="1024" height="621" /></p>
<h2><b>Silver chart analysis</b></h2>
<p>Silver prices begin to retreat after the jump to the $25.26 level and the formation of a new high. First, it fell below the $25.00 level, and in the Asian session, we saw a continuation of the fall to the $24.75 level. We could soon fall to the $24.60 level and test the EMA50 moving average there.</p>
<p>A break below would only add further pressure on the price and send it even lower. Potential lower targets are $24.40 and $24.20 levels. For a bullish option, we need a positive consolidation and a return of silver above the $25.00 level. Then, we need to stay up there and start further recovery with a new impulse. Potential higher targets are $25.25 and $25.50 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-213280 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/CDe4h00q-1024×621.jpg" alt="Silver chart analysis" width="1024" height="621" /></p>
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