Precious metals are multidirectional today. While some metals are bullish, others have started retracing.
At this point, gold has appreciated by 0.07% up to $ 1774,70/oz. Silver has retraced a bit, thereby losing 0.19% of its value. Right now, an ounce of silver costs $ 34,63. Platinum is bearish today as well. It’s is down by 0,37% - $1702,80/oz. Palladium is bearish as well (-0,27% down to $ 694,80/oz).
The chart below, courtesy of , reflects the current state of affairs in the market of gold futures. At this point, the most probable scenario suggests another upswing (wave 5) followed by a retracement phase. However, if to consider the recent price behavior in the market of gold, we cannot deny another major upswing (wave elongation). The closest levels of support are 1747-1719.
