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Gold, Silver, Platinum Forecasts – Gold Climbs Above $2740 As Rally Continues
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Key Points:
- Gold is heading towards the $2750 level as traders focus on falling Treasury yields.
- Silver climbed towards the $31.00 level amid rising demand for precious metals.
- Platinum is trying to settle above the $960 level.
Gold
Gold tests new highs amid strong demand for precious metals. Falling Treasury yields provide additional support to gold markets.
If gold manages to settle above the $2750 level, it will move towards the resistance at $2780 – $2790.
Silver
Silver gained ground as traders reacted to the strong performance of gold markets. Gold/silver ratio climbed above the 89 level, which was a disappointing development for silver bulls.
If silver climbs above $31.00, it will move towards the nearest resistance at $31.45 – $31.75.
Platinum
Platinum tests weekly highs as the rebound continues. Palladium is up by almost 2% in today’s trading session, which is bullish for platinum.
A move above the $960 level will push platinum towards the resistance, which is located at the recent highs 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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