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Gold prices should benefit from near-term political uncertainty, silver’s technical picture deteriorates – StoneX Bullion’s O'Connell ========== Gold prices are expected to benefit from near-term political uncertainty, while silver's technical indicators show a deteriorating picture, according to Rhona O'Connell, Head of Market Analysis at StoneX Bullion. The rally in gold prices is attributed to professional buying interest and the expectation of a rate cut in September. The market is likely to experience an extended period of uncertainty as the Democrats transition from Biden's candidacy to Vice President Kamala Harris as the frontrunner. O'Connell believes that if Trump remains in the White House, gold will be more favorable in the longer term due to potential inflation and geopolitical tensions. Gold ETFs have seen net creation days and an overall positive outlook due to geopolitics and economic uncertainty. However, silver has lost 24t this month and its technical indicators are looking bearish. Gold is currently trading near the $2,400 support level, while silver continues to underperform. The article also includes other news and analysis related to the precious metals market. #Gold #Silver #PoliticalUncertainty #TechnicalAnalysis #MarketOutlook https://www.kitco.com/news/article/2024-07-23/gold-prices-should-benefit-near-term-political-uncertainty-silvers