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Gold, Silver, Platinum Forecasts – Gold Gains Some Ground As Treasury Yields Pull Back
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Key Points:
- Gold is moving towards the $2520 level.
- Silver settled below $28.50 as gold/silver ratio climbed above the 88.50 level.
- Platinum made an attempt to settle above the resistance at $935 - $940.
Gold
Gold is moving towards the resistance at $2520 – $2530 as traders focus on the pullback in Treasury yields.
In case gold climbs above the $2530 level, it will gain strong upside momentum and test new highs.
Silver
Silver is losing ground as gold/silver ratio climbed back above the 88.50 level. From a big picture point of view, traders wait for additional catalysts.
If silver pulls back below the $28.00 level, it will head towards the nearest support at $27.20 – $27.50.
Platinum
Platinum made an attempt to settle above the resistance at $935 – $940 despite worries about China’s economic problems.
If platinum settles above the $940 level, it will move towards the resistance at $975 – $985.
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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