Movement of gold differs from silver

After nearly 3 weeks of consolidation under resistance 1260 bulls finally made a successful attack attempt. An impressive growth candle appeared on the daily chart. Also on Wednesday bulls are not giving up and reached today area 1280, which is the highest price of gold since 10 November.

Interesting is the behavior of Silver, which in recent days has not achieved similar success and still lies under resistance 18.40. In coming days it should be clear that demand for one of these metals is a mistake and either the price of Gold falls to silver or the price of silver rises to break the resistance at 18.40.

Gold – a possible scenario

If nothing unexpected happens, then target of demand for Gold is the key resistance of 1300. It seems that this level is too strong for gold to break it easily. So the main scenario for the coming weeks is the upward movement and resistance test 1300, and then beginning of correction similar to the one we observed under resistance 1260.

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