Spot prices for $XAG demonstrated a massive reversal, plummeting by -7% in less than 2 hours. The price is now approaching $88 per ounce.
Prices for $XAU just dropped nearly -$100 per ounce in just one hour😱😱
The precious metals market is in a frenzy today due to the situation in the Middle East. After a morning surge (silver touched $96, gold went above $5400), a sharp pullback began.
Silver: A sharp dump after attempting to break the psychological level. The price is now trying to find support around $88.
Gold: A correction of $100 is a classic "ballast drop" and profit-taking by major players after a historic rally.
If you are in a position — watch for support levels. For gold, this zone is $5250–$5300, for silver it is critical to hold $85. If these levels do not hold, the correction could become even deeper.
#Silver #Gold #MarketCrash #GoldPrice #XAUUSD
Prices for $XAU just dropped nearly -$100 per ounce in just one hour😱😱
The precious metals market is in a frenzy today due to the situation in the Middle East. After a morning surge (silver touched $96, gold went above $5400), a sharp pullback began.
Silver: A sharp dump after attempting to break the psychological level. The price is now trying to find support around $88.
Gold: A correction of $100 is a classic "ballast drop" and profit-taking by major players after a historic rally.
If you are in a position — watch for support levels. For gold, this zone is $5250–$5300, for silver it is critical to hold $85. If these levels do not hold, the correction could become even deeper.
#Silver #Gold #MarketCrash #GoldPrice #XAUUSD