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Gold, Silver, Platinum Forecasts – Gold Stays Above $2150 As Traders Prepare For Fed Decision
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Key Points:
- Gold is losing some ground but traders are not ready for big moves ahead of the Fed decision.
- Silver pulled back below the $25.00 level.
- Platinum settled below $900 as the pullback continued.
Gold
Gold remains stuck near the $2150 level as traders are not ready for big moves ahead of Fed decision, which will be released tomorrow.
The support at $2140 – $2150 has been tested several times and proved its strength. If gold stays above the $2150 level, it will head towards the resistance at $2190 – $2200.
Silver
Silver pulled back below the $25.00 level as gold/silver ratio climbed above 86.50.
If silver stays below $25.00, it will head towards the nearest support, which is located in the $24.40 – $24.60 range.
Platinum
Platinum remains under strong pressure as traders focus on the continuation of the sell-off in palladium markets, which are down by 4.15%.
RSI remains in the moderate territory despite the significant pullback, so there is plenty of room to gain additional downside momentum.
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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