Gold gains ground as China reported that it has started to buy gold for reserves again.
A successful test of the resistance at $2675 – $2685 will open the way to the test of the next resistance level, which is located in the $2740 – $2750 range.
Silver
Silver 091224 Daily Chart
Silver rallied towards the $32.00 level as gold/silver ratio declined below the 83.50 level.
If silver stays above the $31.75 level, it will head towards the next resistance, which is located in the $34.00 – $34.25 range.
Platinum
Platinum 091224 Daily Chart
Platinum made an attempt to settle above the $950 level amid rising demand for precious metals.
If platinum settles above $950, it will head towards the nearest resistance level at $975 – $985.
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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.