Gold still seems to be Falling towards $1650 , Silver Trying to Stay Above $18
For the past few weeks, so much pressure has been on gold to break the resistance line towards $1600 and so far gold has responded positively to the pressure. Currently trading at $1703 though it is evident there is massive drop from the price it was few weeks ago probably trading around $1750 that is close to $50 difference in price drop
I guess gold fight against my prediction for the year. I was hoping we could end the year at $1800 region or even more but it seems we are far from it at least as of the time of writing this. Gold need to step up with a huge $100 upward to hit that prediction which seems to be far to hit. Well we still have close to 4 months left for the year so definitely there is nothing still impossible
Gold seems to be dipping as day goes by and it seems like September is ready for another bear run for gold. Probably spot gold traders should be cautious the way they trade. We might be in for a long bear run starting from September
On the other part silver arguably not doing much difference from its other metal counterpart. Silver currently trading at $18.09 as of writing which is also far from the majority of people prediction for it. I guess many traders were hoping to see silver hit $20 before the year ends and with the look of things, it actually look far from been real
With a price drop of whopping $2, silver will definitely need to fight against all odds to rise back before the year ends. I think we can still see silver heading back to $19 in the couple of weeks ahead but seeing it hit $20 before the year ends, well seems far from been a reality.
We might see silver hovering around $18 for sometimes at least for weeks. But I believe for silver traders and lovers, this is a buying opportunity many have been waiting for. In the last few months, silver drop to this price region and I guess many were complaining of how they didn't opt in to the buying opportunity before rising back to $20 or even $21.
Now there is another opportunity presented. Let see how it goes. Probably it might touch $17 before the year ends
Overall, whether you are gold trader or silver trader or both, this is a buying opportunity for both to stack more and hope for the rise in months ahead. For my prediction, I am rooting for gold to fight against the pressure to drop below $1700 and fight it. We might still see it hovering around $1700 for some weeks if not close to the whole month of September
And for silver, definitely seems like we are ready for a drop below $18 definitely. I see silver trading around the $17 region and it will take a strong fight to still remain around the $18 region in weeks to come at least for the month of September
What is your price prediction for both gold and silver for the month of September, drop it in the comments section below
Posted Using LeoFinance Beta
