Gold cannot regain 1400 level, silver eases lower

FXstreet.com (Lisbon) - Precious metals continued their weekly retracement Thursday, unable to break higher or even hold above key regions that question the sustainability of the recent rally.

Gold maintains neutral bias

Gold regained some bullish momentum, while the price is trading within a neutral sideways market after breaking the minor ascending trend line. At the current levels, the technical bias remains neutral. At the time of writing, gold prices are trading at USD $1390.53 per oz. Thursday.

Silver fails to bull ahead

Silver ultimately could not bounce higher, back above the ascending support, but remains below the horizontal resistance at 23.60. Accordingly, the bearish scenario remains valid, a break above 23.60 may weaken its chances. The price of silver has now moved to USD $23.43 per oz. during US trading.