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Gold, Silver, Platinum Forecasts – Gold Rebounds Towards $2330 As Treasury Yields Fall

By:
Vladimir Zernov
Published: Jun 18, 2024, 17:03 GMT+00:00

Key Points:

  • Gold continues to consolidate above the support at $2295 - $2305.
  • Silver is trying to settle above the $29.50 level.
  • Platinum tests resistance at $975 - $985.
Gold, Silver, Platinum Forecasts

In this article:

Gold

Gold
Gold 180624 Daily Chart

Gold gains ground as traders focus on the pullback in Treasury yields. From a big picture point of view, gold continues to consolidate above the support at $2295 – $2305.

Gold needs to settle above the 50 MA at $2344 to have a chance to gain sustainable upside momentum in the near term.

Silver

Silver
Silver 180624 Daily Chart

Silver continues its attempts to settle above the $29.50 level as gold/silver ratio stays near the 79 level.

If silver settles above $29.50, it will head towards the nearest resistance level, which is located in the $30.90 – $31.20 range.

Platinum

Platinum
Platinum 180624 Daily Chart

Platinum continues to move away from recent lows as traders bet that demand in China would grow.

A successful test of the resistance at $975 – $985 will open the way to the test of the next resistance at $1010 – $1020.

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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