Gold And Silver Forecast: Dec 2, 2020

Published 12/02/2020, 07:40 AM
Updated 07/09/2023, 06:31 AM

Gold beats resistance at 1815/18 for a buy signal targeting 1828/29, perhaps as far as 1832/34. We could even reach strong resistance at 1840/45.

First support at 1818/15 but longs need stops below 1810. A break lower targets 1804/03 with support at 1798/95. Be ready to sell a break below 1790 for 1785/84, perhaps as far as 1776/75.

Silver has unexpectedly gained over 200 ticks this week to win back most of last week’s losses. The best support for today is at 2350/40. Longs need stops below 2320. A break lower risks a slide to 2295/85.

Longs at 2350/40 target 2375/80 then first resistance at 2395/2405 for profit-taking. Be ready to buy a break above 2415 targeting resistance at 2440/50. A break above 2460 meets a selling opportunity at 2495/2505 with stops above 2520.

Trends

  • Weekly Outlook Neutral
  • Daily Outlook Neutral
  • Short Term Outlook Positive

Gold Chart

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.