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Gold, Silver, Platinum Forecasts – Gold Climbs As Dollar Pulls Back
By:
Live PriceGold
$4,349.42
+0.79%
Gold traders stay bullish as Treasury yields keep moving lower.
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.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir ZernovFutures Trading Expert
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.
