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Video: Bearish Action in Gold & Silver but Miners to Rally Next Week

on 6/23/2023

It was an ugly week in Gold and Silver as Gold lost $1950 support and Silver plunged from $24 down to its 200-day moving average at $22. There is technical damage in the daily and weekly charts. Gold has support at $1900 but stronger support at $1850-$1865.

Nevertheless, the gold and silver stocks fared better in relative terms and their failed double bottom on the daily charts could be a false move. Miners have potential to rally for a week or two.

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