Gold, Silver, Platinum Forecasts – Gold Tests The $2080 Level

Gold

Gold rallied above the $2070 level as traders bet on a less hawkish Fed after the release of the disappointing ISM Manufacturing PMI report.

In case gold settles above the resistance at $2065 – $2075, it will move towards the psychologically important $2100 level.

Silver

Silver climbed back above the $23.00 level as traders focused on the rally in the gold markets. Gold/silver ratio stays above the 90 level, which is worrisome for silver bulls.

If silver settles above $23.00, it will head towards the nearest resistance at $23.30 – $23.60.

Platinum

Platinum rebounded from session lows amid a broad rally in precious metals markets.

In case platinum climbs back above the $890 level, it will head towards the resistance at $925 – $935.

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