Silver and Gold Update

deviantinvestor.com / by Gary Christenson via Free-Bullion-Investment-Guide / April 13, 2017

For the last two weeks, gold and silver have hit resistance as they’ve moved up in trading.

Silver’s resistance levels are at $18.30 and $18.50, while gold’s are at the $1250 and $1270.

Last week, they both were able to breach their first levels of resistance, but they were not able to break above the latter two resistance levels.

The precious metals charts below are showing that this week will most likely be a week of consolidation and profit taking.

However, fundamentally we still have the French Elections coming up on April 23rd which should continue to support the prices of silver and gold.

Also, Janet Yellen, the Federal Reserve Chairman made a surprise announcement that on the 10th of April she will be making a speech and taking questions.

This may have something to do with the Resignation of Jeffrey Lacker or it may not, either way, whatever she says about the future of interest rate hikes, could be either positive or negative for the precious metals.

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