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Gold, Silver, Platinum Forecasts – Gold Pulls Back As Traders Take Profits Near Historic Highs
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Key Points:
- Gold is losing some ground amid profit-taking.
- Silver made an attempt to settle above the $32.50 level.
- Platinum settled near $1050 in a volatile trading session.
Gold
Gold is swinging between gains and losses as traders take profits near historic highs.
The nearest support level for gold is located in the $2390 – $2400 range. In case gold stays above the $2400 level, it will head towards $2500.
Silver
Silver tested the $32.50 level as traders remained bullish. RSI is in the overbought territory, so some traders have already decided to take profits off the table.
If silver moves above $32.50, it will head towards the next resistance level at $33.50 – $34.00.
Platinum
Platinum is mostly flat in volatile trading. The market is trying to stabilize after the recent rally.
If platinum settles back above the $1050 level, it will head towards the nearest resistance level at $1070 – $1080.
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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