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Gold, Silver, Platinum Forecasts – Gold Gains Ground Amid Rising Demand For Precious Metals
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Key Points:
- Gold is trying to settle above the $2360 level.
- Silver moved towards $32.00 as gold/silver ratio pulled back below 74.
- Platinum gained ground despite rising Treasury yields.
Gold
Gold continues to rebound after the recent sell-off as traders focus on U.S. dollar’s pullback.
If gold settles above the $2360 level, it will head towards the nearest resistance at $2390 – $2400.
Silver
Silver gains ground as gold/silver ratio pulled back below the 74 level. RSI is close to the overbought territory, but there is enough room to gain additional momentum.
If silver settles above $32.00, it will head towards the resistance at $33.45 – $34.00.
Platinum
Platinum is moving higher as demand for precious metals stays strong. Rising Treasury yields did not put pressure on platinum markets.
From the technical point of view, platinum needs to settle above the resistance at $1070 – $1080 to gain additional upside momentum.
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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