Gold, Silver, Platinum Forecasts – Gold Climbs Above $2400 As Treasury Yields Decline

Gold

Gold gains ground as traders focus on the pullback in Treasury yields. The yield of 2-year Treasuries settled near the 4.35% level, while the yield of 10-year Treasuries pulled back below 4.15%.

Gold is currently trying to settle above the resistance at $2390 – $2400. In case this attempt is successful, gold will head towards the next resistance level at $2445 – $2450.

Silver

Silver rebounds as gold/silver ratio pulled back towards the 85 level. Gold/silver ratio faced strong resistance near 86, but it remains to be seen whether it will pull back towards the recent range below the 80 level.

From the technical point of view, silver received support near $27.20 – $27.50 and is moving towards the resistance at $28.75 – $29.00.

Platinum

Platinum continues to move away from recent lows amid rising demand for precious metals.

A move above the $960 level opens the way to the test of the resistance at $975 – $985.

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