Gold and silver: Gold on the way to the $2050 level

<div><img width="750" height="430" src="https://www.financebrokerage.com/wp-content/uploads/2019/04/Gold-and-Silver-Prices-Ricocheted-on-Higher-Crude-Rates-Finance-Brokerage.png" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Gold and Silver Prices Ricocheted on Higher Crude Rates – Finance Brokerage" decoding="async" loading="lazy" /></div><h1><b>Gold and silver: Gold on the way to the $2050 level</b></h1>
<ul>
<li aria-level="1">The price of gold is back to shine above the $2000 level.</li>
<li aria-level="1">This week’s low silver price was on Wednesday at $22.49.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>The price of gold is back to shine above the $2000 level. The Fed’s decision to leave interest rates at zero on Wednesday evening pushed the price of gold above the $2000 level all the way to $2047 last night. After that, the price made a minor pullback to $2030, and during the Asian trading session, it consolidated around the $2035 level. Now, we are very close to moving above $2040 and try all the way to the $2050 level.</p>
<p>With a break above, it would be much easier for us because we would get rid of the bearish pressure. Potential higher targets are the $2055 and $2060 levels. For a bearish option, we need a negative <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-euro-in-bullish-consolidation-to-1-05400/">consolidation</a> and pullback to the support of the $2030 level. A drop below that would signal that we are slowly losing strength and will see a test of lower levels. Potential targets are $2020 and $2015 levels. EMA50 is an additional support for the price in the zone around the 2015$ level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-247591 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/uTHJrVny-1024×620.jpg" alt="Gold chart analysis" width="1024" height="620" /></p>
<h2><b>Silver chart analysis</b></h2>
<p>This week’s low silver price was on Wednesday at $22.49. The price sleeps to get support at that level and, from there, initiates a bullish consolidation that forms a high at the $24.20 level. We are currently in that zone, and at any moment, we expect to see a break above and the formation of a new price high. Potential higher targets are $24.40 and $24.60 levels.</p>
<p>We need a negative consolidation and pullback to the $23.80 level for a bearish option. There, we would test the support of the EMA50 moving average. A break below would introduce uncertainty into the bullish scenario, and we would see a further pullback to the bearish side. Potential lower targets are $23.60 and $23.40 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-247595 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/bJO6bQJM-1024×620.jpg" alt="Silver chart analysis" width="1024" height="620" /></p>
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