Since our last market update, gold has risen and risen. Gold has reached $2,943, an all-time high, and has fallen to $2,807, with a range of $136. The market has enjoyed high volatility due to several factors: events in the Middle East, developments in Russia/Ukraine, US inflation indicators, and threats of a possible tariff war. We have been writing daily posts on our LinkedIn page, so for more up-to-date information, we suggest following both Aurica Group and Aurica Inc.

From a technical standpoint, gold has tested the $2,875 level several times, and the bulls seem to want to protect that level, as they have not yet broken through it. Each time the market tests it, gold rebounds, suggesting that upward movements are expected. The support levels we are observing in gold are: $2,875, $2,900, $2,907-2,910, and finally $2,920. An upward break of the $2,920 level will indicate a possible test of a new high in gold. If we break through the $2,975 support level in gold, we will test up to $2,950, where the next support level is located.

As for silver, we continue to closely monitor the ratio, which currently stands at around 89.89 to 1, meaning that silver is undervalued. With gold currently trading at $2917, silver should be around $33.50, so traders and market participants are expecting a rebound in silver. In terms of support, we are watching the $32 mark; a break below this would lead us to test $31.50. In terms of resistance, there is some congestion around the $32.50 mark; a break above this would lead us to prepare for silver above $33.

Josh Perez

Managing Director

Chief of Global Trading