SLV

Gold, Silver, Platinum Forecasts – Gold Tests New Highs Despite Rising Treasury Yields

FXEmpire.com -

Gold

Gold 100524 Daily Chart

Gold tested new highs despite rising Treasury yields. Demand for gold stays strong as traders bet that central banks will keep buying gold for reserves.

The nearest resistance level for gold is located in the $2390 – $2400 range. A move above the $2400 level will push gold towards $2450.

Silver

Silver 100524 Daily Chart

Silver pulled back as gold/silver ratio rebounded above 83.50. Profit-taking served as the key driver for the pullback.

From the technical point of view, silver settled in a range between the support at $27.75 – $28.00 and the resistance at $28.75 – $29.00.

Platinum

Platinum 100524 Daily Chart

Platinum climbed above the resistance at $975 – $985 and moved towards the $1000 level.

If platinum settles above $1000, it will head towards the resistance at $1010 – $1020.

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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