Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Dollar Remains Under Pressure

Key Insights

• Gold moved above the $1940 level as the strong rebound continued. 
• Silver tested new highs near the $25.00 level. 
• Platinum pulled back amid profit-taking. 

Gold

Gold continues to move higher as traders focus on U.S. dollar’s pullback, which is driven by the disappointing economic data from the U.S.

In case gold stays above the $1940 level, it will head towards the next resistance, which is located in the $1975 – $1985 range.

Silver

Silver tested new highs as the rally continued. Treasury yields moved lower, providing additional support to silver.

A successful test of the resistance at $25.00 – $25.25 will open the way to the test of the next resistance, which is located in the $25.90 – $26.15 range.

Platinum

Platinum pulls back as traders take some profits off the table after the strong rally from August lows.

If platinum moves back below the $975 level, it will head towards the nearest support at $925 – $935.

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