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Gold, Silver, Platinum Forecasts – Gold Moved Back Above $2500
By:
Key Points:
- Gold is moving higher, supported by falling Treasury yields.
- Silver managed to climb back above the $28.00 level.
- Platinum is trying to settle above the resistance at $935 - $940.
In this article:
Gold
Gold climbed back above the $2500 level as traders focused on falling Treasury yields.
If gold stays above $2500, it will move towards the strong resistance level at $2520 – $2530.
Silver
Silver rebounds after the strong sell-off. Gold/silver ratio pulled back below the 88.50 level, providing additional support to silver.
In case silver settles back above the $28.50 level, it will get to the test of the nearest resistance at $28.75 – $29.00.
Platinum
Platinum tests resistance at $935 – $940 amid rising demand for precious metals.
A successful test of this level will open the way to the test of the next resistance at $975 – $985.
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 and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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