A daily chart view for short-term reference.
Gold has bounced to the SMA 50 and resistance associated with that area. Option 1: Bounce failure. Option 2: Break on through to the other side for a meeting with the SMA 200 at 1841.
Silver has halted at the first resistance area, which includes the hard diving SMA 50. With the power of the recent negative sentiment profile I would not be surprised if silver takes out this area in order to test the even more important 22 area resistance. But as yet, it’s just the minimum expected bounce to the SMA 50.
Neither precious metal has exited its correction yet despite the vigorous bounce.