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Gold, Silver, Platinum Forecasts – Gold Attempts To Rebound After Sell-Off
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Key Points:
- Gold made an attempt to settle above the $2340 level.
- Silver settled above the $30.00 level.
- Platinum received support in the $1010 - $1020 range.
Gold
Gold gains ground as some traders are ready to bet on a rebound after the recent sell-off.
If gold climbs back above the $2350 level, it will head towards the resistance at $2390 – $2400.
Silver
Silver is also moving higher as traders use the pullback as an opportunity to increase their long positions.
If silver settles above the resistance at $30.90 – $31.20, it will head towards the next resistance level at $33.50 – $34.00.
Platinum
Platinum gains ground amid a broad rebound in precious metals markets.
From the technical point of view, platinum found support in the $1010 – $1020 range. RSI is in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.
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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