Gold, Silver, Platinum Forecasts – Gold Rebounds As Dollar Retreats

Gold

Gold moved higher as traders focused on U.S. dollar’s pullback. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

If gold settles back above the $2900 level, it will move towards the strong resistance at $2930 – $2940.

Silver

Silver moved higher as gold/silver ratio pulled back below the 91 level. If gold/silver ratio manages to settle below the psychologically important 90 level, silver will get more support.

In case silver settles back above the support at $31.45 – $31.75, it will head towards the resistance at $32.75 – $33.00.

Platinum

Platinum rallied amid strong demand for precious metals. Palladium markets are up by 5%, which is bullish for platinum.

A move above the 50 MA at $967 will push platinum towards the resistance level at $980 – $985.

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