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Gold, Silver, Platinum Forecasts – Gold Moves Higher As Geopolitical Tensions Rise
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Key Points:
- Gold is trying to settle above the $2670 level.
- Silver is mostly flat as gold/silver ratio tests multi-week highs.
- Platinum moved back above the $960 level.
Gold
Gold gained ground as traders focused on rising geopolitical tensions and ignored the strong dollar.
In case gold climbs above the resistance at $2675 – $2685, it will move towards the next resistance level at $2740 – $2750.
Silver
Silver is flat as gold/silver ratio moved babove the 86.50 level. From the technical point of view, silver remains stuck below the resistance at $31.45 – $31.75.
A move above the $31.75 level will push silver towards the next resistance level, which is located in the $34.00 – $34.25 range.
Platinum
Platinum gains ground as traders focus on the continuation of the rally in palladium markets.
Platinum needs to climb above the resistance at $975 – $985 to have a chance to gain additional upside momentum in the near term.
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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