Gold, Silver, Platinum Forecasts – Gold Tests Resistance At $1985

Key Insights

• Gold is moving higher amid rising demand for safe-haven assets. 
• Silver is losing ground as gold/silver ratio moved above 86.50.
• Platinum settled above the key $900 level. 

Gold

Gold continues its attempts to settle above the resistance at $1975 – $1985 as demand for safe-haven assets remains strong amid geopolitical uncertainty.

In case gold manages to settle above the $1985 level, it will head towards the next resistance, which is located in the $2015 – $2025 range.

Silver

Silver is losing some ground as Treasury yields rebound. Gold/silver ratio moved above the 86.50 level, which was bearish for silver.

From the technical point of view, silver continues to pull back after the strong rebound from October lows.

Platinum

Platinum moved above the psychologically important $900 level despite stronger dollar and rising Treasury yields.

A move above the 50 MA at $911 will push platinum towards the nearest resistance at $925 – $935.

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