Market Insight Reveals Volatility Ahead: AUD/USD Weakens, US500 and ASX200 under Pressure, Gold and Silver at Pivotal Moment

Blog Categories , Insights

Welcome to Jaggards Friday Market Insight

17 Feb, 2023
As at 10am, AEST.

Gold Spot Price $AU2,676.61
Silver Spot Price $AU31.53
Platinum Spot Price $AU$1,353

Charts Today

Today we’re looking closer at some alternative charts. As the world’s economy continues to bounce around, it is time to collectively take a more macro view of markets.

AUD/USD

As the USD strengthens, we’ve just seen the AUD move below its 200MDA.

US500

Is the worst behind us? Currently seeing the US500 fighting off downward pressure towards its 200MDA

ASX200

More volatile than the US500, our local market will decide in the coming weeks to either weaken down towards its 200MDA or continue its upward trend.

Gold

Currently holding strong above its 200MDA, Gold is currently sitting at a very overall average price since 2019. The next few weeks will be pivotal in telling which way Gold will move.

Silver

More volatile than Gold, Silver quickly sought comfort in the last 3 weeks at exactly its 200MDA and will now either show strength and bounce back up or weaken further.

Market News Highlights

With a plethora of charts to look at today, all are pointing to a very interesting next few weeks. As gold and silver investors, I’m sure you’re all keenly observing and ‘feeling’ something is about to unfold. Either way, the next period will open opportunities to take profit or secure additional bullion at a great price.

In summary of these charts: