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

FXEmpire.com -

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 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 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.

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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