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Gold, Silver, Platinum Forecasts – Gold Tested The $2200 Level
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Key Points:
- Gold made an attempt to settle above the key $2200 level.
- Silver declined towards $24.50 as gold/silver ratio tested new highs.
- Platinum received strong support near the $900 level.
Gold
Gold tested the $2200 level amid rising geopolitical tensions but lost momentum and pulled back.
As a result, gold remains stuck in the range between the support at $2140 – $2150 and the resistance at $2190 – $2200.
Silver
Silver is losing ground as gold/silver ratio moved towards the 89 level. The recent pullback in gold/silver ratio was short-lived, and the ratio is heading back towards the 90 level, which is bearish for silver.
In case silver declines below the support at $24.40 – $24.60, it will head towards the next support level, which is located in the $23.40 – $23.60 range.
Platinum
Platinum managed to stay above the $900 level and is trying to gain additional upside momentum.
In case this attempt is successful, platinum will head towards the resistance at $925 – $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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