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Gold, Silver, Platinum Forecasts – Gold Climbs Above $2350 As Treasury Yields Pull Back
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Key Points:
- Gold gains ground, supported by falling Treasury yields.
- Silver is trying to settle back above the $30.00 level.
- Platinum made an attempt to settle back above the $1000 level.
Gold
Gold moved above the $2350 level as traders focused on the pullback in Treasury yields. Stronger dollar did not put any pressure on precious metals markets today.
In case gold settles above $2350, it will head towards the nearest resistance level at $2390 – $2400.
Silver
Silver rebounds after yesterday’s sell-off. Gold/silver ratio pulled back towards the 78.50 level, providing additional support to silver.
A move above the psychologically important $30.00 level will push silver towards the resistance at $30.90 – $31.20.
Platinum
Platinum gains some ground amid a broad rebound in precious metals markets.
In case platinum climbs back above the $1000 level, it will get to the test of the resistance at $1010 – $1020.
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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