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Gold, Silver, Platinum Forecasts – Gold Gains Ground Ahead Of The Weekend

By:
Vladimir Zernov
Published: Jun 14, 2024, 17:20 GMT+00:00

Key Points:

  • Gold rebounded towards the $2330 level, supported by falling Treasury yields.
  • Silver moved back above the $29.00 level.
  • Platinum is trying to settle above the $950 level.
Gold, Silver, Platinum Forecasts

In this article:

Gold

Gold
Gold 140624 Daily Chart

Gold rebounds as traders focus on the pullback in Treasury yields. From a big picture point of view, gold found strong support in the $2295 – $2305 range.

In case gold climbs above the 50 MA at $2345, it will move towards the next resistance at $2390 – $2400.

Silver

Silver
Silver 140624 Daily Chart

Silver rebounds from multi-week lows as traders focus on the performance of gold markets.

Traders should note that silver’s dynamics in recent trading sessions were mostly driven by fluctuations of gold/silver ratio.

Platinum

Platinum
Platinum 140624 Daily Chart

Platinum gains some ground amid broad rebound in precious metals markets. However, the current bearish trend remains unchanged.

Platinum needs to climb back above the 50 MA at $984 to have a chance to gain sustainable upside momentum.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

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.

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