Gold, Silver, Platinum Forecasts – Gold Moves Higher Amid A Broad Rally In Precious Metals Markets

Key Insights

• Gold continued its attempts to settle above the $2035 level. 
• Silver tested weekly highs as gold/silver ratio pulled back below 87.50.
• Platinum moved towards the resistance at $925 – $935.

Gold

Gold gains ground as traders focus on falling Treasury yields. Interestingly, demand for gold remains strong ahead of the Fed meeting, which may send hawkish signals.

In case gold settles above the $2040 level, it will head towards the resistance at $2065 – $2075.

Silver

Silver rallies as gold/silver ratio pulls back below the 87.50 level. From a big picture point of view, gold/silver ratio continues to move lower after an unsuccessful attempt to settle above the 92 level.

The nearest resistance for silver is located in the $23.40 – $23.60 range. A move above the $23.60 level will push silver towards the next resistance at $24.40 – $24.60.

Platinum

Platinum tests new highs amid a broad rally in precious metals markets.

In case platinum manages to settle above the resistance at $925 – $935, it will head towards the next resistance level at $900 – $1000.

For a look at all of today’s economic events, check out our economic calendar.