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Gold, Silver, Platinum Forecasts – Gold Moves Towards Historic Highs As Dollar Pulls Back
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Key Points:
- Gold is trying to settle above $2915.
- Silver is losing ground as gold/silver ratio climbed above 90.50.
- Platinum pulled back towards the $1030 level.
Gold
Gold is moving higher as traders react to falling Treasury yields and U.S. dollar’s pullback.
A move above the $2915 level will open the way to the test of the resistance at $2930 – $2940.
Silver
Silver pulled back as gold/silver ratio climbed above the 90.60 level. In case gold/silver ratio settles above 91, silver will find itself under more pressure.
If silver declines below the $32.00 level, it will move towards the nearest support level at $31.45 – $31.75.
Platinum
Platinum pulled back as traders took some profits off the table near multi-month highs.
A move below the $1025 level will push platinum towards the psychologically important $1000 level.
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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