Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Is Mostly Flat As Traders Focus On U.S. Dollar’s Pullback
By:
Key Points:
- Gold managed to climb back above the $2400 level.
- Silver pulled back below $31.00 as gold/silver ratio moved above 78.
- Platinum remains stuck in the previous trading range.
Gold
Gold is mostly flat despite the pullback in precious metals markets after higher-than-expected PPI reports.
From the technical point of view, gold settled above the resistance at $2390 – $2400 and is moving towards the next resistance at $2445 – $2450.
Silver
Silver is losing ground as gold/silver ratio jumped above the 78.00 level. The recent attempt to settle above the resistance at $30.90 – $31.20 yielded no results.
In case silver says below the $30.90 level, it will move towards the 50 MA at $29.93.
Platinum
Platinum remains stuck between the support at $975 – $985 and the resistance at $1010 – $1020.
Platinum needs to get out of the current trading range to have a chance to gain sustainable 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.
Did you find this article useful?
Latest news and analysis
Advertisement