Gold, Silver, Platinum Forecasts – Gold Gains Ground Ahead Of Fed Decision

Key Insights

• Gold is trying to settle above the $2050 level. 
• Silver retreats as gold/silver ratio climbed towards the 89 level. 
• Platinum continues its attempts to settle above the resistance at $925 – $935.

Gold

Gold gains ground as U.S. dollar pulls back after the release of ADP Employment Change report, which missed analyst expectations by a wide margin.

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

Silver

Silver is losing ground as gold/silver ratio moved back towards the 89.00 level.

In case silver declines below $23.00, it will head towards the nearest support at $22.25 – $22.50.

Platinum

Platinum gains ground, supported by falling Treasury yields and weaker dollar.

If platinum climbs above the resistance at $925 – $935, it will head towards the next resistance level at $990 – $1000.

For a look at all of today’s economic events, check out our economic calendar.