Gold
Gold rallies as traders focus on the strong pullback in Treasury yields after the release of the Unemployment Rate report, which indicated that Unemployment Rate increased from 4% in May to 4.1% in June.
In case gold manages to settle above the resistance at $2390 – $2400, it will head towards the next resistance level, which is located in the $2445 – $2450 range.
Silver
Silver tests new highs as gold/silver ratio pulled back below the 76.00 level. In case gold/silver ratio settles below 76.00, it will gain additional downside momentum, which will be bullish for silver.
A successful test of the resistance at $30.90 – $31.20 will push silver towards the next resistance level at $32.25 – $32.50.
Platinum
Platinum gained strong upside momentum amid broad rally in precious metals markets.
If platinum stays above the $1020 level, it will head towards the next resistance level, which is located near May highs at $1080 – $1090.
Gold Price Forecast
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