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More Correction Needed in Gold & Silver but Bullish Bias

Author, CMT, and Editor @ The Daily Gold
May 2, 2023

Gold and Silver remain in a correction but thus far the damage has been thin. Gold has initial support at $1980 followed by $1950 and $1900. Silver continues to hold above $24.50. The action over the next week or two can inform us if a bull flag is developing or if there is more downside in terms of price.

The Daily Gold


Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premiuma publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.

The Federal Reserve Bank of New York holds the world's largest accumulation of monetary gold.
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