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Gold, Silver, Platinum Forecasts – Gold Rebounds As Traders Buy The Dip
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Key Points:
- Gold moved towards the $2625 level.
- Silver pulled back as gold/silver ratio tested new highs.
- Platinum continued its attempts to settle below the support at $895 - $905.
Gold
Gold rebounds after the recent pullback. Traders ignore strong dollar and prepare for potential market volatility at the start of the next year.
If gold climbs above the $2640 level, it will move towards the nearest resistance level, which is located in the $2675 – $2685 range.
Silver
Silver tests support at $28.75 – $29.00 as gold/silver ratio climbed towards the 91.00 level.
In case this test is successful, silver will move towards the next support level at $27.50 – $27.70.
Platinum
Platinum tests new lows as the strong pullback continues amid demand worries.
If platinum manages to settle below the support at $895 – $905, it will gain additional downside momentum and move towards the next support level at $840 – $850.
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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