Gold gains ground as some traders are ready to bet on a rebound after the recent sell-off.
If gold climbs back above the $2350 level, it will head towards the resistance at $2390 – $2400.
Silver
Silver 240524 Daily Chart
Silver is also moving higher as traders use the pullback as an opportunity to increase their long positions.
If silver settles above the resistance at $30.90 – $31.20, it will head towards the next resistance level at $33.50 – $34.00.
Platinum
Platinum 240524 Daily Chart
Platinum gains ground amid a broad rebound in precious metals markets.
From the technical point of view, platinum found support in the $1010 – $1020 range. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.
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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.