Gold, Silver, Platinum Forecasts – Gold Gains Ground In Quiet Trading

Gold

Gold gains some ground as traders wait for catalysts. Treasury yields are moving higher, but this move does not put pressure on gold markets.

From a big picture point of view, gold continues consolidation above the nearest support, which is located in the $2295 – $2305 range.

Silver

Silver moved higher as gold/silver ratio pulled back towards the $84.50 level. Silver is trying to get to the test of the resistance at $27.75 – $28.00.

If silver climbs above the $28.00 level, it will head towards the next resistance at $28.75 – $29.00.

Platinum

Platinum rebounded from session lows as traders used the pullback as an opportunity to increase their long positions.

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.