Gold, Silver, Platinum Forecasts – Gold Gains Ground As Demand For Safe-Haven Assets Stays Strong

Key Insights

• Gold is trying to settle above the resistance at $1975 – $1985.
• Silver made an attempt to settle below $22.50 but failed to develop sufficient momentum. 
• Platinum pulls back after yesterday’s rally. 

Gold

Gold moved above the $1985 level amid rising demand for safe-haven assets. The pullback in Treasury yields provided additional support to gold markets.

In case gold stays above $1985, it will head towards the next resistance at $2015 – $2025.

Silver

Silver tested support at $22.50 as gold/silver ratio climbed above the 87 level.

At this point, rising gold/silver ratio is the key bearish catalyst for silver. A move above the 88 level will put additional pressure on silver, but traders should note that support at $22.25 – $22.50 remains strong.

Platinum

Platinum is losing some ground as traders wait for additional catalysts.

From the technical point of view, platinum managed to stay above the $900 level, so it has a good chance to get to the test of the resistance at $925 – $935.

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