Gold moved higher as traders focused on the weakness of the American currency.
Silver settled above the $30.00 level as gold/silver ratio pulled back towards 77.
Platinum remained stuck in a range between the support at $975 and the resistance at $1020.
Gold
Gold 030724 Daily ChartGold gains ground as traders focus on U.S. dollar’s pullback and falling Treasury yields. The weaker-than-expected ISM Services PMI report provided significant support to gold and other precious metals.
In case gold settles above the $2350 level, it will move towards the nearest resistance at $2390 – $2400.
Silver
Silver 030724 Daily ChartSilver rallied above $30.50 as gold/silver ratio pulled back towards the 77 level.
The nearest resistance level for silver is located in the $30.90 – $31.20 range. A move above $31.20 will push silver towards the resistance at $32.25 – $32.50.
Platinum
Platinum 030724 Daily ChartPlatinum is mostly flat in volatile trading. From the technical point of view, platinum remains stuck between the support at $975 and the resistance at $1020.
A move above $1020 will provide platinum with a chance to gain additional upside momentum.
