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Gold, Silver, Platinum Forecasts – Gold Climbed Above The $2450 Level
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Key Points:
- Gold is trying to settle above the $2460 level as traders stay bullish.
- Silver tests the $28.00 level, supported by the strong performance of gold markets.
- Platinum continues its attempts to settle above the resistance at $935 - $940.
Gold
Gold tests new highs as traders focus on falling Treasury yields. Fundamentals remain bullish, and gold looks ready to test historic highs.
If gold stays above the $2450 level, it will head towards July highs near $2480. A move above $2480 will push gold towards the $2500 level.
Silver
Silver gains ground as gold/silver ratio pulls back below the 88.50 level. Gold/silver ratio is near multi-month highs. In case gold/silver ratio starts to move lower, silver will get additional support.
A move above the $28.00 level will push silver towards the next resistance, which is located in the $28.75 – $29.00 range.
Platinum
Platinum is moving higher amid broad rally in precious metals markets. RSI remains in the moderate territory, so there is plenty of room to gain momentum.
A successful test of the resistance at $935 – $940 will push platinum towards the next resistance level at $975 – $985.
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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