On Wednesday (May 15), in the US market, US stocks rose from the downside, market risk sentiment rebounded, and spot gold fell back to around $1,129.20 per ounce.
Chief of BubbaTrading.commarketing strategyTodd Horwitz wrote that, as expected, the price of gold failed to hold the $1,300 mark and closed at $1,296 on Tuesday. Gold continues to trade within the range, with a tendency to fall. The gains will still be sold off before the gold price closes above $1,300 and remains steady at $1310 in a few days.
Silver continues to look like a lifeline in a coma, trying to attract new money buyers. If the price of silver can hold the $14.50 level, it seems to be helpful. Due to the lack of trading volume and trend, silver continued to trade slowly and dullly.
Since the record high in February, the trading prices of gold and silver have been falling. Since the recent highs, gold and silver prices have fallen by 6% and 8% respectively. In addition to several outbreaks or short covering, gold and silver prices appear to be lower.
During this time you decide whether you are a trader or an investor; traders will continue to sell on rallies until further notice. Investors should turn off these machines because they know they will find the bottom and eventually go higher. For investors, the worst deal is trying to grasp the market opportunity.
(Article source: FX168)