Silver Price Daily Forecast – Silver Tries To Gain Some Ground While Gold Stays Flat

New York (Aug 3)  Silver is currently trying to settle above the 20 EMA at $25.55 while the U.S. dollar is mostly flat against a broad basket of currencies.

The U.S. Dollar Index managed to get back above the 92 level and is slowly moving towards the nearest resistance level which is located at 92.15. If the U.S. Dollar Index gets above this level, it will head towards the resistance at the 20 EMA at 92.30 which will be bearish for silver and gold price today. Strong dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

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