Gold
Gold tests new highs as traders focus on falling Treasury yields. Fundamentals remain bullish, and gold looks ready to test historic highs.
If gold stays above the $2450 level, it will head towards July highs near $2480. A move above $2480 will push gold towards the $2500 level.
Silver
Silver gains ground as gold/silver ratio pulls back below the 88.50 level. Gold/silver ratio is near multi-month highs. In case gold/silver ratio starts to move lower, silver will get additional support.
A move above the $28.00 level will push silver towards the next resistance, which is located in the $28.75 – $29.00 range.
Platinum
Platinum is moving higher amid broad rally in precious metals markets. RSI remains in the moderate territory, so there is plenty of room to gain momentum.
A successful test of the resistance at $935 – $940 will push platinum towards the next resistance level at $975 – $985.
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