Gold, Silver, Platinum Forecasts – Gold Is Flat Amid Lack Of Catalysts

By:

Vladimir Zernov

Updated: Jun 20, 2024, 01:03 GMT+00:00

Key Points:

Gold settled near the $2330 level as traders wait for catalysts.
Silver is moving towards the $30.00 level as gold/silver ratio pulled back below 78.50.
Platinum continues its attempts to settle above the resistance at $975 - $985.

Gold

Gold 190624 Daily Chart

Gold is mostly flat as traders wait for additional catalysts. From a big picture point of view, geopolitical tensions continue to provide support to gold markets.

If gold climbs above the 50 MA at $2344, it will move towards the resistance at $2390 – $2400.

Silver

Silver 190624 Daily Chart

Silver gains ground as gold/silver ratio pulled back below the 78.50 level. The dynamics of gold/silver ratio remain the key driver for silver markets.

A move above the $30.00 level will push silver towards the nearest resistance, which is located in the $30.90 – $31.20 range.

Platinum

Platinum 190624 Daily Chart

Platinum tests resistance at $975 – $985 as the rebound continues. Rising palladium markets provide additional support to platinum.

If platinum settles above the $985 level, it will head towards the next resistance at $1010 – $1020.

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About the Author

Vladimir Zernovauthor

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.