Gold and Silver Near a Breakdown That Could Get Steep
Gold and Silver Near a Breakdown That Could Get Steep: a look at why gold and silver keep grinding inside a tightening July consolidation, and which levels would confirm a bullish breakout or open the door to a steep drawdown. Rising Treasury yields, a strong US dollar index, and persistent US-Iran tensions all feed the pressure building across precious metals.
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The gold and silver outlook steadied after the Federal Reserve held rates in July, yet a firm dollar and rising Treasury yields keep the pressure on.
Razan Hilal, FOREX.com Market Analyst, breaks down the technical setup for gold and silver and the macro forces shaping both charts from Dubai.
Hilal looks at why gold and silver keep grinding inside a tightening July consolidation, and which levels would confirm a bullish breakout or open the door to a steep drawdown. Rising Treasury yields, a strong US dollar index, and persistent US-Iran tensions all feed the pressure building across precious metals.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by Forex.com.
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