Gold, Silver, Platinum Forecasts – Gold Rebounds Towards $2330 As Treasury Yields Fall

Gold

Gold gains ground as traders focus on the pullback in Treasury yields. From a big picture point of view, gold continues to consolidate above the support at $2295 – $2305.

Gold needs to settle above the 50 MA at $2344 to have a chance to gain sustainable upside momentum in the near term.

Silver

Silver continues its attempts to settle above the $29.50 level as gold/silver ratio stays near the 79 level.

If silver settles above $29.50, it will head towards the nearest resistance level, which is located in the $30.90 – $31.20 range.

Platinum

Platinum continues to move away from recent lows as traders bet that demand in China would grow.

A successful test of the resistance at $975 – $985 will open the way to the test of the next resistance at $1010 – $1020.

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