Gold, Silver, Platinum Forecasts – Gold Attempts To Settle Above $2630

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.

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