Gold, Silver, Platinum Forecasts – Gold Stays Strong As Rally Continues

Gold

Gold is not trading today as precious metals markets are closed due to Good Friday holiday.

Yesterday, gold managed to settle above the key resistance at $2190- $2200 and tested historic highs. RSI moved into the overbought territory, but there is enough room to gain additional momentum.

Silver

Silver managed to rebound from recent lows as traders focused on the strong rally in gold markets. High gold/silver ratio, which settled near the 90, is the key problem for silver markets.

From the technical point of view, silver found strong support in the $24.40 – $24.60 range and has a good chance to continue the rebound on Monday.

Platinum

Platinum remained stuck in a range on Thursday. From a big picture point of view, traders stay worried about the strength of demand for platinum.

It should be noted that the support level at $880 – $890 is strong. At the same time, platinum needs significant positive catalysts to climb above the nearest resistance at $925 – $935.

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