Gold, Silver, Platinum Forecasts – Gold Gains Ground As Dollar Retreats

Gold

Gold is moving higher as traders react to U.S. dollar’s pullback. The better-than-expected JOLTs Job Openings report did not provide sufficient support to the American currency, which was bullish for gold.

A move above the $2650 level will push gold towards the nearest resistance at $2675 – $2685.

Silver

Silver climbed above the $31.00 level as gold/silver ratio pulled back below the 85.50 level.

If silver stays above $31.00, it will move towards the resistance, which is located in the $31.45 – $31.75 range.

Platinum

Platinum tests new highs amid rising demand for precious metals. RSI remains in the moderate territory, and there is plenty of room to gain momentum in the near term.

From the technical point of view, platinum settled above the resistance at $935 – $945 and is moving towards the next resistance level at $975 – $985.

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