• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Recession fears could send precious metals higher

3 years ago
in Business, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
63
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Recession fears could send precious metals higher

The Global Precious Metals MMI (Monthly MetalMiner Index) traded upwards by 3% as precious metal prices advanced. Gold, silver, and palladium all began a rally coming into 2023. However, that rally has solid potential for both a short and long-term downturn. The surge in the index price was mainly due to silver and gold bullions rising more steeply than palladium, which was the only outlier. After dropping steadily since November of 2022, it currently shows signs of turning upward. But with recession fears building once again, investors continue to turn to precious metal investments.

Precious Metal Prices: Palladium

Palladium’s trend changed entering November 2022, as prices broke through short-term resistance. Strong rallies are typically formed by a number of thresholds, and daily support is one of them. Therefore, it seems possible prices could reverse to the upside and seek relief by moving back toward the $2,000 level.

Platinum Could Turn Upward

Platinum began to form a resistance zone when prices broke down and created new highs in March 2022. Like other precious metal prices, platinum fell and rose multiple times over the remainder of 2022. This generated a lot of market volatility. And as platinum reaches resistance zones, prices remain susceptible to downturn risks.

Precious Metal Prices: Silver

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

Once silver price action began to show displacement to the downside (meaning strong declines), it broke through the prior lows established back in March of 2022. This signaled to many that the index was forming a long-term resistance.

In November 2022, prices began to show short-term bullish strength. However, buyers should remain wary. Considering where resistance currently sits, prices are still subject to an overall decline in the long term. A strong break above the April 2022 resistance would likely create a new trend.

Gold Prices Projected to Turn Downward

In May 2022, price action shattered short-term support levels, creating a solid downtrend. This put seller resistance in an excellent position to pressure bullish rallies like the ones we’re currently seeing.

The downtrend broke in November 2022, which established a new short-term trend. This included a strong rally right up to long-term resistance levels. That said, a short-term bearish reaction could still occur. Indeed, a reversal isn’t out of the question, given long-term resistance pressure.

Tags: Recession fears could send precious metals higher
No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.