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Gold, Silver, Platinum Forecasts – Gold Rebounds After Yesterday’s Sell-Off
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Key Points:
- Gold moved back above the $2300 level.
- Silver received support near the $26.30 level and is trying to climb back above $26.50.
- Platinum attempts to settle above $950.
Gold
Gold rebounds after yesterday’s sell-off as traders prepare for Fed decision, which will be released soon.
Gold received support in the $2295 – $2305 range and is trying to gain upside momentum. In case this attempt is successful, it will head towards the $2350 level.
Silver
Silver is also moving higher as short sellers take some profits off the table after the strong move.
In the near term, silver market dynamics will depend on the reaction to Fed decision and the subsequent comments from Fed Chair Powell.
Platinum
Platinum continues its attempts to settle above the $950 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.
If platinum settles above $950, it will head towards the resistance 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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