Gold, Silver, Platinum Forecasts – Gold Tests Multi-Month Highs Amid Rising Geopolitical Tensions

Key Insights

• Gold moved towards the $1975 level. 
• Silver failed to settle above $23.00 as gold/silver ratio rebounded towards 86.
• Platinum gained ground as traders focused on U.S. dollar’s pullback. 

Gold

Gold gains ground as demand for safe-haven assets stays strong amid rising geopolitical tensions.

In case gold settles above the resistance at $1975 – $1985, it will move towards the next resistance level at $2015 – $2025.

Silver

Silver continues to trade below the $23.00 level as gold/silver ratio climbed above the 86 level.

If silver settles above $23.00, it will head towards the next resistance in the $23.40 – $23.60 range.

Platinum

Platinum rebounds after yesterday’s pullback. U.S. dollar is losing ground against a broad basket of currencies despite Powell’s hawkish comments, providing additional support to platinum.

A move above the $900 level will open the way to the test of the resistance at $925 – $935.

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