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Gold, Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Drops To 2.4%
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Key Points:
- Gold tested resistance at $3150 - $3160.
- Silver was mostly flat as gold/silver ratio climbed above the 102 level.
- Platinum pulled back amid profit-taking.
Gold
Gold tests new highs as traders focus on U.S. inflation data and react to recent tariff developments.
A move above the resistance at $3150 – $3160 will push gold towards the $3200 level.
Silver
Silver is swinging between gains and losses as gold/silver ratio climbed above the 102.00 level.
If silver manages to settle above the $31.00 level, it will head towards the nearest resistance, which is located in the $31.45 – $31.75 range.
Platinum
Platinum pulls back as traders take some profits off the table after the strong rebound from April lows.
If platinum declines below the $910 level, it will move towards the nearest support level at $895 – $900.
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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