Gold, silver, and copper all experienced a sharp decline! What happened?
The price of gold and silver suddenly plunged.
Silver prices plummeted by over 3%! The silver price has fallen below the first bearish target. Institutions have provided the latest trade analysis for silver.
On Thursday, July 25th, during the Asian trading session, spot silver experienced a sharp decline. Currently, the silver price has fallen to $27.88/ounce, with a drastic drop of 3.5% within a day. Economies.com, a well-known financial news website, published a latest article on Thursday with a forward-looking analysis of the trend for silver.
Silver breaks through the major technical level! What is the outlook for silver after the sell-off? FXStreet analyst's technical analysis of silver.
On Wednesday, despite the weakened US dollar, spot silver was still sold off and has fallen below the important level of $29.00 per ounce. According to FXStreet analyst Christian Borjon Valencia, silver fell more than 1% on Wednesday due to pressure from rising US bond yields. From a technical perspective, the bearish trend is strengthening.
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Gold surged suddenly in the short term! The price of gold has just broken through 2415 US dollars. FXStreet's chief analyst analyzes the technical prospects of gold prices.
During Wednesday's Asian trading session, spot gold rose rapidly in the short term, with the price just breaking through $2415 per ounce, refreshing the period high. The Indian government announced on Tuesday that it plans to reduce the import tariffs on gold and silver from 15% to 6%. This news is bullish for the trend of gold.