Gold, Silver, Platinum Forecasts – Gold Gains Ground Ahead Of The Weekend

Gold

Gold gains ground despite stronger dollar. Demand for gold remains strong as traders bet that central banks will continue to purchase gold for reserves.

If gold settles above the $2350 level, it will gain additional upside momentum and move towards the resistance at $2390 – $2400.

Silver

Silver pulls back as gold/silver ratio settled above the 85.50 level. Falling Treasury yields did not provide support to silver markets in today’s trading session.

Silver has recently made an attempt to settle above the resistance at $27.75 – $28.00, but this attempt yielded no results. If silver declines below the $27.00 level, it will head towards the support at $26.00 – $26.30.

Platinum

Platinum pulls back after an unsuccessful attempt to settle above the nearest resistance at $925 – $935.

A move below the $910 level will push platinum towards the psychologically important $900 level.

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