Gold, Silver, Platinum Forecasts – Gold Rallies Towards $2390 As Treasury Yields Pull Back

Gold

Gold rallies as traders focus on the strong pullback in Treasury yields after the release of the Unemployment Rate report, which indicated that Unemployment Rate increased from 4% in May to 4.1% in June.

In case gold manages to settle above the resistance at $2390 – $2400, it will head towards the next resistance level, which is located in the $2445 – $2450 range.

Silver

Silver tests new highs as gold/silver ratio pulled back below the 76.00 level. In case gold/silver ratio settles below 76.00, it will gain additional downside momentum, which will be bullish for silver.

A successful test of the resistance at $30.90 – $31.20 will push silver towards the next resistance level at $32.25 – $32.50.

Platinum

Platinum gained strong upside momentum amid broad rally in precious metals markets.

If platinum stays above the $1020 level, it will head towards the next resistance level, which is located near May highs at $1080 – $1090.

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