Gold, Silver, Platinum Forecasts – Gold Climbs As Dollar Pulls Back

Key Insights

• Gold moved towards the $2050 level as traders focused on weak dollar. 
• Silver climbed back above the $24.00 level. 
• Platinum moved towards multi-month highs. 

Gold

Gold moves higher as U.S. dollar pulls back against a broad basket of currencies. Treasury yields are moving lower, providing additional support to gold markets.

In case gold manages to settle above the $2050 level, it will head towards the next resistance at $2065 – $2075.

Silver

Silver rebounds after the recent pullback. Gold/silver ratio declined below the 85 level, providing additional support to silver.

If silver settles above the recent highs at $24.29, it will head towards the next resistance at $25.00 – $25.30.

Platinum

Platinum gains ground as market sentiment in precious metals markets remains bullish.

A move above the $970 level will open the way to the test of the resistance at $990 – $1000.

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