• Gold is moving higher as traders bet on the dovish Fed.
  • Silver is trying to settle above the resistance at $31.20.
  • Platinum gains ground amid a broad rally in precious metals markets.

Gold

Gold tests new highs as traders react to U.S. inflation reports, which indicated that the Inflation Rate declined from 3.3% in May to 3% in June.

In case gold stays above the $2400 level, it will head towards the next resistance, which is located in the $2445 – $2450 range.

Silver

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Silver gains ground, supported by falling Treasury yields and the U.S. dollar’s pullback.

A successful test of the resistance at $30.90 – $31.20 will push silver towards the next resistance level at $32.25 – $32.50.

Platinum

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Platinum continues to rebound amid a broad rally in precious metals markets.

From the technical point of view, platinum needs to settle above the resistance at $1010 – $1020 to have a chance to gain sustainable upside momentum.