Gold, Silver, Platinum Forecasts – Gold Tests $2080 As Dollar Dives Towards New Lows

Key Insights

• Gold keeps moving higher as traders focus on weak U.S. dollar. 
• Silver moved towards the $24.50 level, supported by the strong performance of gold markets. 
• Platinum tested the key $1000 level. 

Gold

Gold climbed towards the $2080 level as U.S. dollar tested multi-month lows. Traders remain focused on falling Treasury yields.

In case gold settles above the resistance at $2065 – $2075, it will head towards the next resistance level, which is located in the $2140 – $2150 range, although it may also face resistance near the psychologically important $2100 level.

Silver

Silver managed to stay above the $24.00 level as gold tested new highs. Gold/silver ratio continues to move higher, which is bearish for silver.

In case silver manages to settle above $24.50, it will head towards the resistance at $25.00 – $25.30.

Platinum

Platinum tests the key $1000 level as demand for precious metals continues to increase.

If platinum settles above $1000, it will head towards the next resistance at $1035 – $1045.

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