Gold rebounds after the sell-off which was driven by profit-taking. Demand for safe-haven assets stays strong amid rising geopolitical tensions.
A move above the resistance at $2350 – $2360 will push gold towards the $2400 level.
Silver
Silver 150424 Daily Chart
Silver rallied as gold/silver ratio declined below the 82.50 level. From a big picture point of view, gold/silver ratio is moving towards November 2023 lows near the 80 level.
In case silver settles above the resistance at $28.70 – $28.90, it will head towards the next resistance level at $29.70 – $30.00.
Platinum
Platinum 150424 Daily Chart
Platinum pulls back as traders continue to take profits after the unsuccessful attempt to settle above the $1000 level.
If platinum declines below $960, it will move towards the nearest support level, which is located in the $925 – $935 range.
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Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.