On Wednesday, June 19th, Vladimir Zernov, an independent trader and analyst for Fxempire, predicted the trends of gold, silver, and platinum using long-term position trading and swing trading strategies. He predicted that traders are waiting for catalysts, with gold closing near $2,330; as the gold/silver ratio falls below 78.50, silver prices are moving towards $30.00; Platinum continues to try to break through the resistance at $975-$985. #GoldTechnicalAnalysis#
Gold is basically flat as traders wait for more catalysts. Overall, geopolitical tensions continue to provide support for the gold market. If the gold price breaks through the 50-day moving average ($2,344), it will move towards the resistance level ($2,390-$2,400). As the gold/silver ratio falls below 78.50, silver prices rise. The dynamic of the gold/silver ratio remains the main driving force of the silver market. If it breaks through the level of $30.00, silver will reach the recent resistance level of $30.90-$31.20. Platinum continues to rebound and test the resistance at $975-$985. The palladium market is rising, providing additional support for platinum. If the platinum price breaks through the key level of $985, it will reach the next resistance level of $1,010-$1,020.
Gold
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240620/0-ba1cae44dfde675ce360fd943b97eb45-0-43aa932c628576631d41f79d8cb7188d.jpg/big)
(Image source: fxempire)
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If the gold price breaks through the 50-day moving average ($2,344), it will move towards the resistance level ($2,390-$2,400).
Silver
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240620/0-ba1cae44dfde675ce360fd943b97eb45-1-bed546084dc9a7cc0a2d2f1be2c6ac93.jpg/big)
(Image source: fxempire)
As the gold/silver ratio falls below 78.50, silver prices rise. The dynamic of the gold/silver ratio remains the main driving force of the silver market.
If it breaks through the level of $30.00, silver will reach the recent resistance level of $30.90-$31.20.
Platinum
![](https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20240620/0-ba1cae44dfde675ce360fd943b97eb45-2-51fd70bc82d51eea1a75c43c982d16f7.jpg/big)
(Image source: fxempire)
Platinum continues to rebound and test the resistance at $975-$985. The palladium market is rising, providing additional support for platinum.
If the platinum price breaks through the key level of $985, it will reach the next resistance level of $1,010-$1,020.