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Gold, Silver, Platinum Forecasts – Gold Retreats From Historic Highs
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Key Points:
- Gold pulled back towards the $3400 level.
- Silver did not manage to settle above the resistance at $33.00 - $33.20.
- Platinum declined below the $950 level.
Gold
Gold tested the psychologically important $3500 level but lost momentum and pulled back amid profit-taking.
The nearest support level for gold is located in the $3350 – $3360 range. A move below the $3350 level will push gold towards the next support at $3235 – $3245.
Silver
Silver continues its attempts to settle above the resistance level at $33.00 – $33.20.
In case silver climbs above $33.20, it will move towards the next resistance at $34.40 – $34.60.
Platinum
Platinum is losing ground after an unsuccessful attempt to settle above the resistance at $960 – $965.
A move below the $945 level will push platinum towards the nearest support at $930 – $935.
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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