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Gold, Silver, Platinum Forecasts – Gold Keeps Moving Higher As Dollar Pulls Back
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Gold moved above the $2030 level, supported by weak dollar and falling Treasury yields.
Key Insights
- Gold continued to move higher as traders focused on dovish Fed and weak dollar.
- Silver rallied as gold/silver ratio declined.
- Platinum gained strong upside momentum as traders paid attention to the major rally in palladium markets.
Gold
Gold gained more ground as U.S. dollar remained under strong pressure against a broad basket of currencies.
If gold stays above the $2025 level, it will head towards the next resistance at $2065 – $2075.
Silver
Silver moved higher amid a broad rally in precious metals markets. Gold/silver ratio pulled back below 84.50, providing additional support to silver markets.
If silver climbs above the $24.50 level, it will head towards the next resistance at $25.00 – $25.30.
Platinum
Platinum tested new highs as traders focused on the strong rally in palladium markets, which gained 12%.
From the technical point of view, platinum is moving towards the resistance at $990 – $1000.
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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