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Gold Climbs Above $2350 Amid Rising Demand For Precious Metals

June 20, 2024

NEW YORK (June 20) Gold markets gain ground despite stronger dollar and rising Treasury yields. Demand for precious metals is strong amid rising geopolitical tensions.

In case gold stays above the $2350 level, it will head towards the resistance at $2390 – $2400.

Silver rallies as gold/silver ratio pulled back towards the 76.50 level. If gold/silver ratio declines below the support at 75.75, silver markets will gain additional upside momentum.

From the technical point of view, a move above the resistance at $30.90 – $31.20 will open the way to the test of the next resistance at $32.25 – $32.50.

Platinum continues its attempts to settle above the resistance at $975 – $985 amid broad rally in precious metals markets.

If platinum settles above $985, it will head towards the next resistance level, which is located in the $1010 – $1020 range.


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