Gold found support in the $2390 – $2400 range and is trying to rebound as traders focus on the pullback in Treasury yields.
If gold stays above the $2400 level, it will head towards the nearest resistance at $2445 – $2450.
Silver
Silver 230724 Daily Chart
Silver remains under some pressure as gold/silver ratio climbed above the 82.50 level.
It should be noted that silver made several attempts to settle below the support at $28.75 – $29.00, but these attempts yielded no results. In case silver manages to settle above the $29.00 level, it will move towards the 50 MA at $30.21.
Platinum
Platinum 230724 Daily Chart
Platinum is losing ground as traders stay focused on the problems of China’s economy.
A move below the support at $935 – $940 will open the way to the test of the next support level at $890 – $900.
For a look at all of today’s economic events, check out our economic calendar.
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.