Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Retreats As Dollar Gains Ground At The Start Of The Week
By:
Key Points:
- Gold is moving lower amid lack of positive catalysts.
- Silver pulled back below the $30.50 level.
- Platinum is trying to climb above the resistance at $935 - $945.
Gold
Gold is losing ground as traders focus on U.S. dollar’s rally. From a big picture point of view, gold needs additional positive catalysts to settle above the $2650 level.
A move below $2620 will push gold towards the nearest support level at $2580 – $2590.
Silver
Silver is moving lower as gold/silver ratio climbed back above the 86.50 level.
From the technical point of view, silver continues to stabilize in the $30.00 – $30.50 range.
Platinum
Platinum continued its attempts to settle above the resistance at $935 – $945 but did not manage to gain sufficient upside momentum.
If platinum moves above the $945 level, it will head towards the next resistance level 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.
Latest news and analysis
Advertisement