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Gold, Silver, Platinum Forecasts – Gold Is Flat Ahead Of Fed Decision
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Key Points:
- Gold is trading above the $2150 level as traders wait for the main event of the week.
- Silver settled near the $25.00 level.
- Platinum managed to stabilize after the recent sell-off.
Gold
Gold is mostly flat as traders wait for the release of the Fed decision and are not ready for any moves.
The near-term direction of gold markets will depend on whether Powell’s comments are hawkish. If Powell signals that he is thinking about cutting rates, gold may gain upside momentum.
Silver
Silver is also flat as traders are waiting for the key event of the week.
The technical picture remains bullish. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum.
Platinum
Platinum stabilized above the support at $880 – $890 as traders focused on the upcoming Fed decison.
A move below $880 will provide platinum with a chance to gain additional downside momentum.
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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