Gold Price & Silver Technical Analysis: XAU at Big Support, XAG Nearing It 2021-02-05 13:30:00 Paul Robinson, Strategist Gold/Silver Technical Outlook Silver has a nice technical landscape, near March trend-line Advertisement Gold, silver both trading near support levels The precious metal space has been under pressure in recent sessions, with gold price declining over 2% in yesterday’s session. The decline has major long-term support back in play around the 1800-mark. It is a level that dates back to the post 2011-peak topping process, when during 2011 and 2012 there were three peaks created before gold fell into a sustained bear market. While in November the area was breached on a daily basis, it held up when looking at the weekly or monthly chart. Given how long-term this support level is, it is necessary to give some latitude and look at these longer time-frames.