Gold, Silver, Platinum – Gold Rebounds Ahead Of The Weekend

Key Insights

• Gold moved towards the $1960 level after PCE Price Index report. 
• Silver rebounded above $24.20.
• Platinum remained stuck near the $935 level. 

Gold

Gold rebounds as traders react to the PCE Price Index report, which showed that PCE Price Index declined from 3.8% in May to 3% in June.

From the technical point of view, gold remains stuck in a range between the support at $1935 and the resistance at $1985.

Silver

Silver has also managed to gain upside momentum in today’s trading session as traders focused on the pullback in Treasury yields.

Silver has found support in the $24.00 – $24.20 range but it remains to be seen whether it will gain additional upside momentum ahead of the weekend.

Platinum

Platinum is mostly flat as traders wait for additional catalysts. It looks that platinum traders remain worried about the potential recession despite the encouraging economic data from the U.S.

In case platinum settles below the support at $925 – $935, it will head towards the next support level, which is located in the $890 – $900 range.

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