Gold and Silver Price Chart Update

September 13, 2023

by Craig Hemke Sprott Money

It was a grueling summer for precious metal enthusiasts, as gold and silver prices have remained in the same downtrend that began in early May. All trends eventually come to an end, and this one will, too, but at what price levels? Let’s take a look at the charts and see if we can find some clues.

The Future of Gold and Silver Prices

First of all, what changed in early May? Prices had rallied from the February lows on the back of concerns for the banking system in the U.S. Those issues were addressed via a whole host of new programs from the Federal Reserve and, after 60 days of worry, Fed Chairman Jerry Powell declared the whole thing a success at his post-FOMC press conference on Wednesday, May 3.