asiaworldcupslots| Gold and silver can still rise, but it is not advisable to catch up with the current position!

Huitong Financial APP-Looking to the future, analysts expect gold and silver prices to rise. However, they advise investors to avoid chasing the market at current levels.

David Morrison, senior market analyst at TradeNation, said that although silver prices look overbought, last week's rise above $30 an ounce was a major breakthrough.

he saidasiaworldcupslots:"Silver has made incredible gains in the past two weeks and it does look overbought at current levels. That means there could be some profit-taking now. But traders who want to short in these market movements are either very brave or very reckless."

Ole Hansen, head of commodities strategy at Saxo Bank, said that although gold looks a little overbought, it is still "buying on dips."

He said in a report: "asiaworldcupslotsWe believe some patience is needed, especially considering that investors may need more time to adjust and adapt to current high price levels. This includes central banks, major buyers since 2022, and whether their political motivations for buying gold will increase their willingness to pay record prices."

Hansen added that silver may have more potential than gold because it has just broken through.

At the same time, last week's relatively encouraging inflation data consolidated expectations that the Federal Reserve will cut interest rates twice this year, supporting gold prices and in turn benefiting silver.

"Given current economic indicators and expectations of further dovish signals from the Fed, gold prices are likely to remain bullish in the short term," said James Hyerczyk, market analyst at FXEmpire.

As for what level traders and investors should focus on, Cordova Trading founder Julia Cordova said gold prices need to hold on to 2,352 if there is a major correction.asiaworldcupslots.70 dollars. As for silver, Cordova said there was room for silver to rise after last Friday's breakthrough.

She said the weekly target for silver is 34asiaworldcupslots.835 and $35.69. "$29.855 is the position bulls want to hold on to in any pullback," she said in Sunday's weekly report.

Daily chart of spot silver At 13:57 on May 21, Beijing time, spot silver was reported at US$31.58/ounce