Gold, Silver, Platinum Forecasts – Gold Climbs Above $2330 As Dollar Pulls Back

Gold

Gold gains ground as U.S. dollar declines after the Initial Jobless Claims report, which indicated that 231,000 Americans filed for unemployment benefits in a week.

A move above the $2350 level will open the way to the test of the resistance at $2390 – $2400.

Silver

Silver rallied above the $28.00 level as gold/silver ratio pulled back below the 83 level.

In case silver settles above the resistance at $27.75 – $28.00, it will move towards the next resistance level, which is located in the $28.75 – $29.00 range.

Platinum

Platinum tests new highs amid a broad rally in precious metals markets. Traders bet on a more dovish Fed after the release of the disappointing Initial Jobless Claims report.

A successful test of the resistance at $975 – $985 will push platinum towards the next resistance at $1010 – $1020.

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