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Gold, Silver, Platinum Forecasts – Gold Rebounds From Session Lows As Dollar Pulls Back
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Key Points:
- Gold rebounded towards $2330 after an unsuccessful attempt to settle below the $2300 level.
- Silver managed to settle back above $27.00.
- Platinum remained under pressure amid demand worries.
In this article:
Gold
Gold rebounds from session lows as traders use the pullback as an opportunity to establish long positions.
From the technical point of view, gold received strong support in the $2295 – $2305 range.
Silver
Silver is also moving higher as traders focus on falling Treasury yields and weaker dollar, which is losing ground against a broad basket of currencies.
A move above $27.50 will push silver towards the nearest resistance at $27.75 – $28.00.
Platinum
Platinum tested new lows amid a lack of positive catalysts. Traders remain worried about demand for platinum in the near term.
In case platinum declines below the $900 level, it will head towards the support at $870 – $880.
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 and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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