Gold, Silver, Platinum Forecasts – Gold Rebounds After Yesterday’s Sell-Off

Gold

Gold rebounds after yesterday’s sell-off as traders prepare for Fed decision, which will be released soon.

Gold received support in the $2295 – $2305 range and is trying to gain upside momentum. In case this attempt is successful, it will head towards the $2350 level.

Silver

Silver is also moving higher as short sellers take some profits off the table after the strong move.

In the near term, silver market dynamics will depend on the reaction to Fed decision and the subsequent comments from Fed Chair Powell.

Platinum

Platinum continues its attempts to settle above the $950 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

If platinum settles above $950, it will head towards the resistance at $975 – $985.

For a look at all of today’s economic events, check out our economic calendar.