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Gold, Silver, Platinum Forecasts – Gold Attempts To Settle Above $2630
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Key Points:
- Gold is moving higher as traders ignore rising Treasury yields.
- Silver remains stuck below the $30.00 level as gold/silver ratio moved above 88.50.
- Platinum continues its attempts to settle above the $950 level.
Gold
Gold gains some ground despite rising Treasury yields. From a big picture point of view, traders continue to buy gold after the recent pullback.
A move above the $2650 level will open the way to the test of the nearest resistance at $2675 – $2685.
Silver
Silver is flat as gold/silver ratio climbed above the 88.50 level. From the technical point of view, silver remains stuck below the $30.00 level.
If silver declines below $29.50, it will move towards the nearest support level at $28.75 – $29.00.
Platinum
Platinum tests new highs as the strong rebound continues. It should be noted that platinum traders ignored the pullback in palladium markets.
If platinum stays above the $950 level, it will head towards the 50 MA at $964. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.
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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