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Gold, Silver, Platinum Forecasts – Gold Tests The $2900 Level
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Key Points:
- Gold is moving higher as traders react to Trump's tariff plans.
- Silver did not gain strong momentum as gold/silver ratio climbed above the 90.50 level.
- Platinum tested resistance at $1025 - $1030.
Gold
Gold tested new highs as traders focused on Donald Trump’s plans to impose tariffs on U.S. imports of steel and aluminum.
It should be noted that RSI is in the overbought territory, so the risks of a pullback are increasing.
Silver
Silver did not manage to settle above the $32.00 level as gold/silver ratio jumped above 90.50.
In case silver pulls back below the support at $31.45 – $31.75, it will move towards the 50 MA at $30.58.
Platinum
Platinum rallied towards the resistance at $1025 – $1030 amid rising demand for precious metals.
A move above the $1030 level will push platinum towards the next resistance at $1085 – $1090.
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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