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Gold, Silver, Platinum Forecasts – Gold Gains Ground Amid Rising Geopolitical Tensions
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Key Points:
- Gold is trying to settle above the $2180 level.
- Silver received strong support in the $24.40 - $24.60 range.
- Platinum moved back above the $900 level.
Gold
Gold gains ground as demand for safe-haven assets increased after a terrorist attack on Moscow. Meanwhile, French President Macron noted that Islamists tried to attack France in recent months.
From the technical point of view, gold settled in a range between the support at $2065 – $2075 and the resistance at $2190 – $2200.
Silver
Silver is moving higher, supported by U.S. dollar’s pullback. Rising Treasury yields did not put any pressure on silver markets.
In case silver climbs back above the $25.00 level, it will head towards the next resistance, which is located in the $25.75 – $26.00 range.
Platinum
Platinum gains ground as traders focus on the strong rebound in palladium markets, which managed to move back above the psychologically important $1000 level.
At this point, it looks that platinum markets managed to stabilize above the support at $880 – $890.
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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