Gold and silver: the price of gold rises to the $1920 level

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2023/02/Gold.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="gold" decoding="async" loading="lazy" /></div><h1><b>Gold and silver: the price of gold rises to the $1920 level</b></h1>
<ul>
<li aria-level="1">During the Asian trading session, the price of gold rose to resistance at the $1920 level.</li>
<li aria-level="1">During the Asian trading session, the silver price growth stopped at $22.94.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>During the Asian trading session, the price of gold rose to resistance at the $1920 level. That level coincided with the EMA50 moving average, which further weighed on the price and sent it down. We are currently at the $1912 level; soon, we could test the $1910 level of support. We need a price breakout below and negative consolidation for a bearish option.</p>
<p>After that, gold could fall to the $1900 support level. Last week we saw a <a href="https://www.financebrokerage.com/opening-range-breakout/">breakout</a> below and the formation of a lower low at the $1892 level. For a bullish option, we need a positive consolidation and a return of the gold price above the $1920 level. Then we need to stay up there. With a new bullish impulse, we would start the continuation of the gold price recovery. Potential higher targets are the $1930 and $1940 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-209305 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/NZESkqEx-1024×634.jpg" alt="Gold chart analysis" width="1024" height="634" /></p>
<h2><b>Silver chart analysis</b></h2>
<p>During the Asian trading session, the silver price growth stopped at $22.94. Very quickly, we encountered resistance there, and silver pulled back below the EMA50 moving average. A picture like this could now add further pressure on the price of silver and send it even lower. We would again have the opportunity to visit last week’s lows.</p>
<p>Potential lower targets are the $22.60 and $22.40 levels. We need a positive consolidation and return above the EMA50 and the $22.90 level for a bullish option. Then it is necessary to stay above that and start the recovery with a new impulse. Potential higher targets are the $23.00 and $23.10 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-209306 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/4u7h93p1-1024×634.jpg" alt="Silver chart analysis" width="1024" height="634" /></p>
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