Precious metals are on the rise as the US Dollar Index weakens and inflation remains moderate. This week presents a potential turning point for metals markets. Grassroots support for the sound money movement is growing, with several states considering legislation to eliminate taxes on gold and silver transactions. While challenges exist at the federal level, progress can be made at the state level, aided by bipartisan cooperation. Congressman Alex Mooney is among the supporters of sound money initiatives. Overall, the outlook for precious metals is positive, with opportunities for bullish momentum in the second half of the year.
On technical level, both MACD and RSI are supporting the bullish trend.
If this trend continues, the price might try to reach targets of 1970 and 19 75. In the opposite scenario, the price might revert to levels of 1949 and 1943.
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On technical level, both MACD and RSI are supporting the bullish trend.
If this trend continues, the price might try to reach targets of 1970 and 19 75. In the opposite scenario, the price might revert to levels of 1949 and 1943.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.