Silver and Nvidia Prices Slip Amid Technical Corrections

Silver has entered a sharp correction, falling from its yearly high of 123.33 to around 61.50, a drop of roughly 50%, after a rally that saw prices rise about 348% since early 2024. The broader precious‑metal sector, including gold, is also weakening, with gold sliding from a peak of 5,672 to 4,146, a 27% decline. Analysts note that such pull‑backs often precede a resumption of the previous upward trend, emphasizing the importance of price action over sentiment.

Nvidia shares are similarly under pressure, closing at $194.83 on July 2, down about 13% over the past month. The stock is trading below key short‑term moving averages (EMA‑20 and EMA‑50) and faces a pivot resistance around $195.75, with immediate support near $191.43. Technical indicators show moderate bearish momentum, with RSI at 41.16 and a MACD signal indicating a sell stance. While the long‑term EMA‑200 remains supportive at $188.17, the short‑term outlook suggests continued weakness unless a decisive bullish trigger occurs.