Ever since the ratio crash to 45.92 in January 2026, the strong retracement level at 66.39 acted as resistance until the latter part of June 2026, when a further upward move reached 71.50. Up to now the broken resistance area at 66.39 has acted as support. A break here would suggest that a strong recovery in the precious metal sector is likely.

There are also arguments which favour the upside. The  current price is close to the rising 50 day moving average and a break above the previous high at 71.50 would suggest a move as far as the Fibonacci 61.8% projection target at 79.04.

Disclaimer

Our opinions are not a recommendation to buy or sell a security. Your decision whether or not to open a transaction should be based on your own due diligence and not on any representation we make to you