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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.
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, 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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