Page 34 - Bullion world volume 4 issue 6 june 2024
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Bullion World | Volume 4 | Issue 6 | June 2024
MACD (12,26) may signal short-term weakness although it is well above the zero line.
Silver
Spot silver prices during 2024 so far traded in between $21.91 and 32.51 per Oz. As of date (May 24) silver spot is
trading at $30.56 per Oz.
Silver in the monthly continuation has not settled above $30 per Oz since Jan 2013. If silver closes well above $30 per
Oz by the end of May 2024, then one can foresee the continuation of the bullish trend. Silver can go as high as $44 to
$47 per Oz in that scenario, closer to the all-time historic high of $49.83 (April 2011).
Strong support is seen at $26 and then at 24.62 and is unlikely to fall further. Overall silver is set to continue its bullish
trend and the downside is limited.
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