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Gold, Silver, Platinum Forecasts – Gold Climbs Above $2650 Amid Rising Demand For Safe-Haven Assets
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Key Points:
- Gold attempts to settle above the $2650 level despite strong dollar.
- Silver continues its attempts to settle above the psychologically important $30.00 level.
- Platinum is up by roughly 3% as the strong rebound continues.
Gold
Gold gains ground despite strong dollar and rising Treasury yields. Demand for safe-haven gold is rising amid pullback in U.S. equity markets.
In case gold stays above the $2650 level, it will get to the test of the nearest resistance level at $2675 – $2685.
Silver
Silver tested new highs as traders focused on strong performance of gold markets.
A move above the $30.00 level opens the way to the test of the 50 MA at $30.86. If silver settles above the 50 MA, it will move towards the resistance level at $31.45 – $31.75.
Platinum
Platinum rallied as traders bet on rising demand for the metal. Palladium markets have also gained upside momentum in today’s trading session.
If platinum settles above $960, it will head 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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