Gold prices slipped this morning after hitting a one-week high last session, as the dollar recovered some lost ground after U.S. fiscal package talks stalled. However, the recent increase in the balance sheet from the FED is likely giving the noble metal more support.
We would also expect Silver to also move much higher as it still has not lost its shine. The recent supportive trend is expected to push silver higher once the stimulus agreement is reached and the dollar depreciates. Should the market break the recent highs at 25.15 we might see the pair quickly moving towards the next resistance at 26.40 and subsequently to 27.30!
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The content of this material and/or any information provided by BDSwiss Group should not be in any way construed, either explicitly or implicitly, directly or indirectly, as investment advice, recommendation or suggestion of an investment strategy with respect to a financial instrument and it is not intended to provide a sufficient basis on which to make investment decisions, in any manner whatsoever. Any information, views or opinions presented in this material have been obtained or derived from sources believed by the BDSwiss Research Department to be reliable, but BDSwiss makes no representation as to their accuracy or completeness. BDSwiss Group accepts no liability for losses arising from the use of this data and information. The data and information contained herein are for background purposes only and do not purport to be full or complete.
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