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Gold, Silver, Platinum Forecasts – Gold Attempts To Rebound
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Key Points:
- Gold is trying to settle back above the $2330 level.
- Silver is mostly flat as traders wait for additional catalysts.
- Platinum remains under significant pressure.
Gold
Gold is trying to rebound after the recent sell-off. The challenging situation in the Middle East and strong demand from central banks serve as positive catalysts for gold markets.
If gold climbs back above the $2350 level, it will head towards the nearest resistance at $2390 – $2400.
Silver
Silver is mostly flat as the market stabilizes after recent volatility. Gold/silver ratio settled near the 85 level.
If silver climbs above the $27.50 level, it will get to the test of the resistance at $27.75 – $28.00.
Platinum
Platinum remains under pressure as the strong pullback continues amid a lack of positive catalysts.
A move below the $900 level will open the way to the test of the support at $870 – $880.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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