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Gold, Silver, Platinum Forecasts – Gold Climbed Above The $3300 Level
By:
Key Points:
- Gold rallied as traders reacted to recent developments in U.S. - China trade war.
- Silver tested resistance at $33.00 - $33.20.
- Platinum gained ground as demand for precious metals increased.
Gold
Gold tests new highs as traders focus on trade wars, weak dollar, and falling Treasury yields.
RSI is in the overbought territory, but there is some room to gain additional upside momentum in the near term.
Silver
Silver tests resistance at $33.00 – $33.20 as traders focus on the strong rally in gold markets.
In case this test is successful, silver will move towards the next resistance at $34.40 – $34.60.
Platinum
Platinum tests new highs amid strong demand for precious metals. Currently, platinum is trying to settle above the $965 level.
A move above $965 will push platinum towards the resistance at $1010 – $1015.
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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