Gold, Silver, Platinum Forecasts – Gold Tests $2500 As Dollar Pulls Back

Gold

Gold tested historic highs as traders focused on falling Treasury yields and weak U.S. dollar. Demand for gold stays strong, and it has a good chance to gain additional upside momentum.

A move above the $2500 level will likely attract speculative traders and push gold towards the $2550 level.

Silver

Silver gains ground as traders focus on the strong performance of gold markets. Gold/silver ratio moved higher, but this move did not put any pressure on silver today.

A successful test of the resistance at $28.75 – $29.00 will push silver towards the next resistance level, which is located in the $31.40 – $31.75 range.

Platinum

Platinum is mostly flat despite the strong rally in the gold markets. Palladium markets have also failed to gain upside momentum in today’s trading session.

In case platinum manages to settle above the $950 level, it will head towards the resistance at $975 – $985.

For a look at all of today’s economic events, check out our economic calendar.