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Gold, Silver, Platinum Forecasts – Gold Rebounds After Yesterday’s Pullback
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Key Points:
- Gold rebounded towards the $2175 level as dollar pulled back.
- Silver rallied towards the $25.00 level.
- Platinum tested resistance at $925 - $935.
Gold
Gold rebounds after yesterday’s pullback. Demand for gold stays strong as U.S. dollar pulls back against a broad basket of currencies.
In case gold settles above the $2175 level, it will head towards the resistance at $2190 – $2200.
Silver
Silver rallied as gold/silver ratio declined towards the 87 level. It looks that traders realized that high gold/silver ratio presented an opportunity to purchase silver at attractive levels.
A move above the $25.00 level will open the way to the test of the resistance at $25.75 – $26.00.
Platinum
Platinum continues its attempts to settle above the resistance at $925 – $935 amid a broad rally in precious metals markets.
If platinum stays above $935, it will move towards the next resistance level 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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