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GOLD
Gold and silver continue to smash records
Key Takeaways (30s Read)
Gold and silver are setting record highs; analyzing market trends and technical levels.
Both gold and silver are hitting record highs, with gold trading at $4,438.50, showing significant momentum with the strongest annual performance since 1979. A breakout above the technical resistance at $4,439 could target the $4,515.17 Fibonacci extension. Silver, currently at $68.83, is outperforming gold and maintains an upward trend, having strong demand from industrial sectors. The key support for silver is the 100-hour MA at $66.12, below which the market sentiment could shift bearish.
AI Analyst
AI Opinion
"The prices of gold and silver are driven by central bank purchases and demand from investors seeking safety. Gold's current level at $4,438.50 positions it towards a potential target of $4,515. Meanwhile, silver at $68.83 keeps a strong supply-demand dynamic. However, a drop below gold's supportive level of $4,380.79 could pose a short-term risk. Overall, liquidity in the precious metals market remains high, indicating that this trend might continue into the next year."
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