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Gold, Silver, Platinum Forecasts – Gold Tests Historic Highs As Treasury Yields Fall
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Key Points:
- Gold is heading towards the $3100 level.
- Silver is losing ground as gold/silver ratio settled back above the 90 level.
- Platinum did not manage to settle above the resistance at $980 - $985.
Gold
Gold tests new highs as traders react to the strong pullback in Treasury yields.
If gold stays above the $3080 level, it will head towards the psychologically important $3100 level.
Silver
Silver faced strong resistance at $34.60 – $34.85 and pulled back as gold/silver ratio rallied above the 90 level.
If silver settles back below the $34.00 level, it will head towards the nearest support at $32.75 – $33.00.
Platinum
Platinum made an attempt to settle above the resistance at $980 – $985 but lost momentum and pulled back.
In case platinum moves below the $960 level, it will head towards the support, which is located in the $930 – $935 range.
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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