Commodities Analysis and Opinion

Gold, Silver Rebound but Face Stiff Overhead Resistance

08/28/2023

Less than a minute

2023.08.28 05:46

Jordan Roy-Byrne, CMT

and rebounded and may have a bit more upside but they do face significant overhead resistance.

Gold has more room to run as it closed at $1940 and its stiff resistance is at $1980-$2000.

Silver managed to close last week above $24 and was stronger than Gold. However, it faces stiff daily resistance in the $24.50-$25.50 range.

08/28/2023

Less than a minute

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