Gold held an advance as a drop in U.S. consumer sentiment and concerns over the highly contagious delta virus strain stoked demand for the haven asset
Caution returned to global markets after data Friday showed U.S. consumer sentiment fell in early August to the lowest in nearly a decade as Americans grew more concerned about the economy’s prospects, inflation and the recent surge in Covid-19 cases. New variants like delta are moving the bar for herd immunity to near impossibly high levels, while countries are also grappling with vaccine hesitancy and supply issues.
The SILVER is into minor correction status. The market is working back into short term up trending and positioned to attack a 24.05 range high which in turn should push a move to 24.54. A drop under Friday’s low or close under 23.17 could trigger a downturn for a slide to 23.08.