Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Dives 2.7% As Dollar Tests New Highs
By:
Key Points:
- Gold is moving towards the $2600 level.
- Silver is trying to settle below the $30.50 level.
- Platinum is losing ground as demand for precious metals declines.
Gold
Gold tests new lows as traders focus on strong dollar and prepare for a less dovish Fed.
If gold moves below the $2600 level, it will get to the test of the support at $2580 – $2590.
Silver
Silver tests new lows as traders focus on the strong sell-off in gold markets. RSI is in the moderate territory, so there is plenty of room to gain momentum.
If silver settles below the $30.00 level, it will head towards the nearest support level, which is located in the $28.75 – $29.00 range.
Platinum
Platinum is moving lower amid broad pullback in commodity markets, which was triggered by strong dollar.
A move below the $960 level will push platinum towards the support at $935 – $945.
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.
Latest news and analysis
Advertisement