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Gold, Silver, Platinum Forecasts – Gold Climbed Back Above $2900
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Key Points:
- Gold received strong support in the $2870 - $2880 range.
- Silver gained ground as gold/silver ratio declined below 90.
- Platinum climbed above the $1030 level.
Gold
Gold made an attempt to settle below the support at $2870 – $2880 but lost momentum and climbed back above the $2900 level.
If gold settles above $2900, it will head towards the nearest resistance level at $2930 – $2940.
Silver
Silver rallied above the $32.00 level as gold/silver ratio pulled back below the psychologically important 90 level.
If silver climbs above $32.50, it will get to the test of the nearest resistance at $32.75 – $33.00.
Platinum
Platinum is trying to settle above the resistance at $1025 – $1030 as demand for precious metals stays strong.
In case this attempt is successful, platinum will head towards the next resistance level, which is located in the $1085 – $1090 range.
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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