Gold Prices Still in Consolidation

Gold prices continue to trade in the middle of the range with the momentum clearly lacking and the investors also getting tired of the ranging and the consolidation that they have been seeing over the last many days. The prices have been ranging and consolidating over a long time now and though the range has been large, the long-term investors would be disappointed with the way that the prices have been moving over the last few months as they would like to see a breakout in one direction or the other so that it would be helpful for them to take the right positions as far as the prices are concerned.

Gold Prices Range

The prices were expected to break through the range when the Fed started hiking rates but even though the Fed did start with its rate hikes from March, they have been unable to have too much of an effect on the gold prices. One of the major reasons for that has been the geopolitics that has been dominating the market headlines over the last few weeks and this has made the dollar choppy. The dollar is unable to gain a strong foothold in the market and this is helping the gold prices to hold their own and not slip further. We expect the gold prices to continue to trade within the range and consolidate for the short and medium term as well.

The silver prices have also been consolidating and ranging and this has been the case for the prices over the last few months. Not much change is expected in the short term.