Gold and silver rise cautiously ahead of Death Cross
Gold and silver prices have risen in recent days, but analysts believe that their recovery may face difficulties in returning to their all-time highs recorded earlier this year, with gold reaching around $4,120 per ounce and silver about $60. Experts from ING Bank attribute these gains to opportunities following the recent decline, rather than to fundamental changes in geopolitical or economic conditions. However, prices remain well below their January peaks, when gold hit $5,589 and silver $121 per ounce, affected by rising interest rates and a strong dollar. There are also risks of potential declines, especially in gold, due to factors such as the so-called "Death Cross," where moving averages cross downward, indicating possible bearish momentum. Reports warn that silver faces challenging conditions amid fluctuating demand, with expectations of declining prices and fewer attractive entry points, amid ongoing tensions in the Middle East and rising opportunity costs.
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