World gold and silver prices plummet.

SKĐS - World gold prices broke through the important support level of $4,500 while silver prices also fell sharply due to the continued deadlock in US-Iran negotiations.

As of the morning of May 20th, Vietnam time, the spot gold price was trading around $4,481.20 per ounce, down 1.84%, while the spot silver price was near $73.580 per ounce, down 5.13% during the session.

Gold and silver prices fell under greater pressure from the bond market, as the yield on 10-year US Treasury bonds remained around 4.6%, while the yield on 30-year bonds reached its highest level since 2007. This caused gold prices to fall below $4,500 per ounce and pulled silver prices away from $75, as traders reassessed the cost of holding non-yielding assets.

World gold and silver prices plummet (illustrative image).

The Strait of Hormuz continues to be a geopolitical focal point impacting precious metals, energy, and interest rate markets. Oil futures edged lower as investors closely monitored US-Iran negotiations following President Donald Trump's postponement of a planned attack on Iran. However, this strategic waterway remains disrupted, and the market has yet to fully reflect the likelihood of a complete return to normal operations.

In oil markets, WTI crude oil prices on the Nymex fell, closing around $107.77 per barrel, while Brent crude closed near $111.28 per barrel. The US dollar index rose, and the yield on 10-year US Treasury bonds remained around 4.6%.

Technically, the next upside target for spot gold buyers is to push the price back to the resistance zone of $4,530 - $4,550 per ounce. If this area is successfully broken, the next target would be $4,600 and then $4,715 per ounce.

Conversely, the short-term target for sellers is to push the price below the support level of $4,464.50, before heading towards lower levels at $4,370 and $4,350 per ounce.

The first resistance level was noted at $4,530, followed by $4,550, while the nearest support zones are located at $4,464.50 and $4,370 per ounce.

For spot silver, the next upside target for buyers is to push the price back to the $75.00 - $76.63/ounce range, before heading towards $78.00 and $79.00/ounce.

Conversely, the sellers' target is to break the support level of $73.03, with further downside targets at $72.00 and $71.00 per ounce.

The first resistance level for silver is at $75.00, followed by $76.63, while the nearest support zones are identified at $73.03 and $72.00 per ounce.

Source: https://suckhoedoisong.vn/gia-vang-bac-the-gioi-lao-doc-169260520071216079.htm