Gold & Silver Recovery Hinges on Key Resistance Levels

Gold and silver prices have been showing signs of recovery from recent lows, but technical analysts using Elliott Wave principles caution that the bounce lacks confirmation until key resistance levels are reclaimed.

The current uptick in gold and silver is largely attributed to a softer U.S. dollar and renewed safe-haven demand amid geopolitical uncertainties.

According to Elliott Wave analysis, the recovery may be part of a larger corrective wave or potentially a new impulse. However, until price action confirms a clear five-wave advance on the intraday charts, traders remain cautious about calling a definitive trend reversal.