Posted by Money Metals on 1/17/2022 to
January 17, 2022 – Precious metals markets enter this week’s trading with an opportunity to benefit from continued dollar weakness.
|Gold and silver prices rose last week as the U.S. dollar fell versus foreign currencies. The yellow metal closed strongly above $1,800/oz.|
A lot more work needs to be done before a significant breakout rally can be confirmed. Gold faces overhead resistance in the mid-$1,800s, where previous rally attempts have failed.
|Silver, meanwhile, is keying off a potential double bottom from December. A move above resistance at $23.50/oz could clear the technical path for bigger gains ahead.|