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Gold, Silver, Platinum Forecasts – Gold Moved Back Above $2500
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Key Points:
- Gold is moving higher, supported by falling Treasury yields.
- Silver managed to climb back above the $28.00 level.
- Platinum is trying to settle above the resistance at $935 - $940.
Gold
Gold climbed back above the $2500 level as traders focused on falling Treasury yields.
If gold stays above $2500, it will move towards the strong resistance level at $2520 – $2530.
Silver
Silver rebounds after the strong sell-off. Gold/silver ratio pulled back below the 88.50 level, providing additional support to silver.
In case silver settles back above the $28.50 level, it will get to the test of the nearest resistance at $28.75 – $29.00.
Platinum
Platinum tests resistance at $935 – $940 amid rising demand for precious metals.
A successful test of this level will open the way to the test of the next resistance 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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