Metals Enter Correction: Silver and Gold Prices Show Signs of Slowdown
Gold and silver prices surged as the US dollar hit new lows, but the rally appears to be losing momentum. Analysts suggest the precious metals are entering a corrective phase, potentially setting the stage for future gains.
Rashad Hajiyev, a prominent financial expert, notes that silver has completed its fifth Elliott wave, signaling a possible slowdown. "Metals are about to bottom," Hajiyev tweeted, citing the Elliott Wave Theory's five-wave structure. The current decline may soon give way to a countertrend move.
Despite breaking a two-month trendline, the sell-off has been contained—a positive sign for long-term stability. Market watchers await the next phase for silver and gold, which could determine whether their recent shine fades or intensifies.
