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Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs As Dollar Retreats
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Key Points:
- Gold climbed above the $3200 level.
- Silver moved above $32.00 amid strong demand for precious metals.
- Platinum tested resistance at $930 - $935.
Gold
Gold tested historic highs as traders focused on U.S. dollar’s pullback. Treasury yields are rising amid tariff uncertainty, and demand for safe-haven gold is rising.
It should be noted that RSI has just moved into the overbought territory, so there is plenty of room to gain momentum in the near term.
Silver
Silver rallied above the resistance at $31.45 – $31.75 as traders focused on the strong performance of gold markets.
If silver climbs above the 50 MA at $32.48, it will move towards the resistance at $33.00 – $33.20.
Platinum
Platinum is moving higher amid broad rally in precious metals markets. Currently, platinum is trying to settle above the resistance at $930 – $935.
If this attempt is successful, platinum will head towards the next resistance level at $960 – $965.
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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