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Precious metals consolidate following historic nine-week rally

From kitco.com

The precious metals market has delivered extraordinary returns over the past two years, with both gold and silver climbing 149% since October 2023. Remarkably, approximately half of these substantial gains have materialized in just the last two months, underscoring the intensity of the recent rally. However, the meteoric rise encountered a natural pause at the start of this week as both metals experienced a healthy technical correction. The pullback brought silver to a 38% Fibonacci retracement level, with gold approaching a similar threshold. These retracement calculations are based on the price action spanning ... (full story)

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  • Category: Technical Analysis