The price of gold began to rise today after a long fall. Earlier today, futures for August delivery rose to 0.3% on the New York Stock Exchange, which allowed them to move to the level of $ 1,705.35 per troy ounce. Support was at the level of $ 1,690.30 per troy ounce, while resistance was at $ 1,761 per troy ounce.

Silver began to attract the main attention of investors in the precious metals market. Recently, it has shown steady growth, which at the moment has encountered an unexpected course. Investors asked a fair question: will this lead to a rapid decline? Or will it be some respite before the next spurt up? Recall that the metal faces a strategically important mark of $ 25 per ounce, after which it will be able to firmly gain a foothold in the market.

To date, the highest possible value of silver futures has risen to $ 18.95 per troy ounce. Such an unexpected and fairly confident increase was due to the lifting of the lockdowns and easing of the quarantine measures of several countries for the COVID-19 pandemic.

However, after rising to such a significant height on Monday, silver began to lose its gained position. Today, its value has fallen by 0.2%, thus futures for July deliveries are traded in the region of $ 17.922 per troy ounce.

In general, since April 21, silver has managed to increase 27% of its value, but over the past two days it has already decreased by 4%. Should we expect a further fall? Experts can not yet decide on the answer.

Recall that silver has a dual purpose. Firstly, it is in demand in the jewelry sector, and secondly, it is used in the industry. In view of this special situation, it can become even stronger against the backdrop of economic recovery and the resumption of work of an increasing number of enterprises.

Thus, silver needs to determine the role that it will play. Currently, investor interest is directed more towards risky assets, they have no reason to keep their assets in a "safe haven", which particularly includes silver.

As soon as this direction becomes clear, the movement of the price of the precious metal will be determined. So, it can both increase its value to $ 25 per troy ounce, and significantly reduce to $ 15 per troy ounce.

Most analysts are still considering the option that silver will move up after a short break. This belief is reinforced by the fact that activity in the manufacturing sector is becoming higher every day. And the fact that the Central Bank of most countries continues stimulating measures only confirms this scenario.

However, some concerns among experts remain. Identical periods of silver growth in the past did not always end positively. In March of this year, the metal was already breaking its minimum value of 11.74 dollars per troy ounce. Then the analysts said that the drop in precious metal followed the decline in the value of gold, which was also critical.

According to analysts, now is a great moment in order for silver to storm the mark of $ 20 per troy ounce. When this happens, we can talk about further growth to the level of $ 25 per troy ounce. The last time the cost of the silver already reached $ 20 four years ago, and $ 25 seven years ago.

Other metals are moving in different directions today. Palladium became cheaper by 0.29%, which pushed it to the level of $1,943.43 per troy ounce. Platinum, by contrast, rose in value by 0.77% and was at around $832.43 dollars per ounce.

Copper futures for July delivery fell in price by 0.44%, which sent it to the area of $ 2,473 per pound.