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Gold, Silver, Platinum Forecasts – Gold Rebounds Above $2350 As Dollar Pulls Back
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Key Points:
- Gold gained ground as Treasury yields tested new lows.
- Silver rebounded above the $30.50 level.
- Platinum continued its attempts to settle below the support at $1010 - $1020.
Gold
Gold is moving higher as traders focus on the strong pullback in Treasury yields. U.S. dollar is losing ground against a broad basket of currencies, providing additional support to gold markets.
In case gold settles back above the $2350 level, it will head towards the nearest resistance at $2390 – $2400.
Silver
Silver rebounds from session lows, supported by weaker dollar and falling Treasury yields.
A move above the resistance at $30.90 – $31.20 will provide silver with an opportunity to gain additional upside momentum.
Platinum
Platinum tests support at $1010 – $1020 amid demand worries. U.S. dollar’s pullback did not provide support to platinum markets.
If platinum settles below $1010, it will head towards the next support at $975 – $985.
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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