Gold
Gold tested new highs as rally continued. U.S. dollar’s pullback and fear of missing out were the key drivers for the move.
Gold is overbought, but every pullback is quickly bought as demand stays strong. The market sentiment is extremely bullish, and gold is ready to test the $2300 level.
Silver
Silver tested multi-year highs as gold/silver ratio declined towards the 85 level. Finally, silver managed to get out of the wide trading range and is ready to test new highs.
A move above $26.95 will open the way to the test of the $28.00 level.
Platinum
Platinum tests resistance at $925 – $935 amid a broad rally in precious metals markets.
If platinum manages to settle above this level, it will head towards the next resistance, which is located in the $975 – $985 range.
For a look at all of today’s economic events, check out our economic calendar.
