Gold
Gold fell to a low of $ 1792 last week and it then rallied to mark as high as $ 1834 levels and dropped back to close at $ 1810 levels. Inflation fear and negative Treasury yields could be the supporting factors for gold to avoid a major fall in price.
Technically, finding resistance at its 50 day moving average last week at $ 1835 levels, gold could take a dip towards getting its support at $ 1792 its 100 day moving average. Gold currently trading at $ 1805 levels , RSI points lower with further weakness ahead for gold.
Silver
Silver following gold silver popped up higher near $ 26.50 and fell back to mark a bearish close on a weekly chart at $ 25.63 levels. Trading currently at $ 25.37, silver could tests its next support at $ 24.80 levels this week.
Platinum and Palladium
Platinum marked decent gains to start the week and towards the close of the week it fell back. Short term chart suggest it could find support at $ 1080 and resistance is at $ 1121 level.
Palladium got rejected at key levels last week and is on free fall for last 4 trading session trading lower to its key moving average each rally could find sellers to be active. Trading currently at $ 2628, nearby resistance for palladium is seen at $ 2675 levels . Palladium is likely to fall back to $ 2550 this week.
Data and Events for this week
- Euro Zone policy Statement on Thursday Jul 22nd