Gold, Silver, Platinum Forecasts – Gold Moves Higher As Dollar Pulls Back

Key Insights

• Gold gained ground as traders focused on weaker dollar and lower Treasury yields. 
• Silver pulled back as gold/silver ratio settled back above the 87 level. 
• Platinum settled near the $925 level. 

Gold

Gold gained some ground as traders focused on U.S. dollar’s pullback. Falling Treasury yields provided additional support to gold markets.

If gold settles above $1985, it will move towards the nearest resistance level, which is located in the $2015 – $2025 range.

Silver

Silver is under pressure as gold/silver ratio moved back above the 87 level. In case gold/silver ratio settles above the resistance at 88, it may gain additional momentum and move towards the 90 level, which will be bearish for silver.

The technical picture remains unchanged as silver is stuck in the $22.50 – $23.60 range.

Platinum

Platinum settled near the resistance level at $925 – $935 as traders waited for additional catalysts.

In case platinum manages to climb above $935, it will head towards the resistance at $985 – $1000.

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