On Wednesday, June 5th, Vladimir Zernov, an independent trader and analyst at Fxempire, used long-term holding and swing trading strategies to predict the trends of gold, silver, and platinum.

He predicts that gold prices will rise due to the support of the decline in US Treasury yields; silver is trying to return to above the $30.00 level; and platinum is trying to return to above $1,000.

Gold

(Image source: fxempire)

Due to traders' concerns about the decline in US Treasury yields, gold prices broke through the $2,350 mark. The strength of the US dollar did not bring any pressure to today's precious metal market.

If the gold price remains above $2,350, it will touch the recent resistance level of $2,390-$2,400.

Silver

(Image source: fxempire)

Silver rebounded after yesterday's sell-off. The decline in gold and silver prices to the level of 78.50 provides additional support for silver.

If the silver price breaks through the psychological level of $30.00, it will push it down to the resistance level of $30.90-$31.20.

Platinum

(Image source: fxempire)

In the context of a general rebound in the precious metals market, platinum prices have risen slightly.

If the platinum price re-breaks through the $1,000 mark, it will face a resistance level test of $1,010-$1,020.