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Gold, Silver, Platinum Forecasts – Gold Climbed Above $2660 As Treasury Yields Pulled Back
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Key Points:
- Gold gains ground as traders stay bullish.
- Silver tests resistance at $31.45 - $31.75.
- Platinum pulled back amid worries about China's economy.
Gold
Gold is moving higher as traders focus on the pullback in Treasury yields. From a big picture point of view, market sentiment remains bullish amid geopolitical tensions.
If gold climbs above the resistance at $2675 – $2685, it will get to the test of the psychologically important $2700 level.
Silver
Silver continues its attempts to settle above the resistance at $31.45 – $31.75 as gold/silver ratio pulled back below the 84.50 level.
A move above the $31.75 level will push silver towards the recent highs near the $33.00 level.
Platinum
Platinum pulled back as traders worried that China’s stimulus measures would not provide sufficient support to the economy.
If platinum declines below the $975 level, it will head towards the 50 MA at $958.
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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