Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Tests New Highs As Traders Focus On U.S. CPI Data
By:
Key Points:
- Gold managed to settle above the $2700 level.
- Silver remains stuck near the $32.00 level as gold/silver ratio rebounded above 85.00.
- Platinum settled near the key support level at $935 - $945.
Gold
Gold tests new highs as strong rally continues after the release of U.S. inflation data, which met analyst expectations.
In case gold settles above the $2720 level, it will head towards the next resistance, which is located in the $2740 – $2750 range.
Silver
Silver is mostly flat as gold/silver ratio climbed back above the 85.00 level.
If silver pulls back below the $31.45 level, it will head towards November lows near the $30.00 level.
Platinum
Platinum remains stuck near the support level at $935 – $945. It looks that strong dollar and rising Treasury yields put some pressure on platinum markets in today’s trading session.
If platinum manages to climb above the $950 level, it will move towards the nearest resistance at $975 – $985.
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.
Latest news and analysis
Advertisement