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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 the $3340 level.
- Silver was mostly flat as gold/silver ratio climbed above 100.50.
- Platinum made an attempt to settle above the $980 level.
Gold
Gold moved higher as traders reacted to U.S. dollar’s pullback and focused on falling Treasury yields.
In case gold manages to settle above the resistance at $3350 – $3360, it will head towards the next resistance level at $3490 – $3500.
Silver
Silver is mostly flat as gold/silver ratio is heading towards the 101.00 level. Rising gold/silver ratio remains a key problem for silver bulls.
A successful test of the resistance at $33.00 – $33.20 will push silver towards the next resistance at $34.40 – $34.60.
Platinum
Platinum climbed above the resistance at $960 – $965 and is trying to settle above the $980 level.
In case this attempt is successful, platinum will move towards the next resistance at $1010 – $1015.
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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