Gold, Silver, Platinum Forecasts – Gold Tests The $2590 Level

Gold

Gold tests resistance at $2580 – $2590 as traders focus on U.S. dollar’s pullback after Fed’s rate cut.

A move above the $2590 level will provide gold with an opportunity to gain additional upside momentum.

Silver

Silver rallied as gold/silver ratio pulled back below the 83.50 level. RSI is in the moderate territory, so there is plenty of room to gain additional momentum in case the right catalysts emerge.

A move above the nearest resistance at $31.45 – $31.75 will push silver towards yearly highs at $32.50.

Platinum

Platinum rebounds after yesterday’s pullback amid broad rally in precious metals markets.

In case platinum settles above the $1000 level, it will head towards the resistance at $1020 – $1030.

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