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Gold, Silver, Platinum Forecasts – Gold Rebounded Towards $3130
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Key Points:
- Gold rebounds after yesterday's pullback.
- Silver did not manage to settle back above the $34.00 level.
- Platinum moved lower amid demand worries.
Gold
Gold is moving higher as traders prepare for tariff announcement and focus on U.S. dollar’s pullback.
A move above the resistance at $3140 – $3150 will push gold towards the $3200 level.
Silver
Silver made an attempt to settle back above the $34.00 level but lost momentum and pulled back.
In case silver declines below the $33.50 level, it will head towards the nearest support level, which is located in the $32.75 – $33.00 range.
Platinum
Platinum remains under pressure as traders fear that trade wars will hurt demand for the metal.
A successful test of the support at $980 – $985 will open the way to the test of the next support level at February lows at $930 – $935.
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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