ISA Bullion Precious Metals Daily Report – 15 April 2024

15 April 2024
OTC Market Data
High
Low
Close
Previous
Change USD
Change %
Gold
2431
2334
2343
2373
-30.00
-1.26%
Silver
29.80
27.85
27.87
28.47
-0.60
-2.11%

Overview:

Today’s market analysis offers a deep dive into the ongoing trends in the gold and silver markets. With a focus on both fundamental and technical factors, this report is designed to equip investors with essential insights for effective navigation of these markets.

 

Fundamental Analysis:

Gold prices have shown resilience, attracting buying interest amid heightened geopolitical tensions and a fluctuating US dollar. Despite a recent pullback from record highs, the backdrop of global uncertainties continues to support the appeal of gold as a safe-haven asset.

 

Technical Analysis:

Gold

Gold remains in a strong uptrend despite recent retracement. Current levels suggest potential pivotal points for either continuation of the rally or deeper corrections based on support and resistance dynamics.

  • Stochastics Oscillator: 78
  • Relative Strength Index (RSI): 73
Support 3
Support 2
Support 1
Current Market Price
Resistance 1
Resistance 2
Resistance 3
2300
2332
2348
2360
2372
2386
2400

Silver

Silver displays volatility with significant potential for further advances. The metal’s movement above crucial levels could catalyze a push towards new highs, reflecting its growing status as a stabilizing asset amidst global economic shifts.

  • Stochastics Oscillator: 79
  • Relative Strength Index (RSI): 72
Support 3
Support 2
Support 1
Current Market Price
Resistance 1
Resistance 2
Resistance 3
27.75
28.00
28.25
28.50
28.75
29.00
29.25

Indicator Glossary:

  • Stochastics Oscillator: Measures market momentum by comparing a closing price to its price range over a specific period, indicating potential overbought or oversold conditions.
  • Relative Strength Index (RSI): Assesses rate of price changes to determine overbought or oversold conditions in the market.
Key US Economic Reports & Events
When
Actual
Expected
Previous
Core Retail Sales m/m
4:30 PM
1.1%
0.5%
0.3%
Empire State Manufacturing Index
4:30 PM
-14.3
-5.2
-20.9
Retail Sales m/m
4:30 PM
0.7%
0.4%
0.6%

Conclusion:

Navigating the bullion markets requires a robust understanding of both technical and fundamental influences. Our analysis strives to provide a comprehensive view, aiding investors in making informed decisions amidst the complexities of gold and silver trading.

Disclaimer: This report is for informational purposes only, based on reliable sources but not serving as investment advice. ISA BULLION disclaims any liability for reliance on this information, advising users to conduct their own research and consult with professional advisors.