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.

In this article:

Gold

+4.89%

Silver

+5.33%

Platinum

+3.40%

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.

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Vladimir Zernovauthor

Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.

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