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Gold, Silver, Platinum Forecasts – Gold Tests Resistance At $2025
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Key Points:
- Gold tested new highs as the rebound continued.
- Silver settled near the $23.00 level as gold/silver ratio remained mostly unchanged.
- Platinum gained ground, supported by the strong performance of palladium markets.
Gold
Gold gains ground as traders focus on U.S. dollar’s pullback and falling Treasury yields.
Currently, gold is trying to settle above the resistance at $2015 – $2025. In case this attempt is successful, it will head towards the next resistance at $2065 – $2075.
Silver
Silver managed to stay above the $23.00 level as gold/silver ratio settled near 88. In case gold/silver ratio climbs above the 88 level, it will head towards 90, which would be bearish for silver.
A move below the $23.00 level will push silver back towards the strong support in the $22.25 – $22.50 range.
Platinum
Platinum tested new highs as traders focused on the rally in palladium markets, which moved towards the psychologically important $1000 level.
From the technical point of view, platinum is heading towards the nearest resistance at $925 – $935.
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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