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Gold, Silver, Platinum Forecasts – Gold Remains Stuck Below The Key Resistance Level
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Key Points:
- Gold settled below the resistance at $2520 - $2530.
- Silver is trying to climb above the $30.00 level as gold/silver ratio pulled back towards 84.
- Platinum pulled back below the $960 level.
Gold
Gold is stuck below the key resistance level at $2520 – $2530 as traders wait for additional catalysts.
The technical setup is bullish, but gold needs to settle above the $2530 level to gain upside momentum.
Silver
Silver continues its attempts to settle above the $30.00 level. Gold/silver ratio pulled back towards the 84.00 level, providing some support to silver markets.
In case silver climbs above $30.00, it will move towards the resistance at $31.40 – $31.75.
Platinum
Platinum pulls back after an unsuccessful attempt to settle above the resistance at $975 – $985.
The technical picture remains unchanged as platinum is stuck between the support at $935 – $940 and the resistance at $975 – $985.
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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