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Gold, Silver, Platinum Forecasts – Gold Gains Ground Despite Pullback In Precious Metals Markets
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Key Points:
- Gold is trying to settle back above the resistance at $2015 - $2025.
- Silver retreats as gold/silver ratio rebounds towards the 88 level.
- Platinum pulled back as traders took some profits off the table after the recent rebound.
In this article:
Gold
Gold gains ground while U.S. dollar stays flat. It looks that rising demand for safe-haven assets provides some support to gold markets today.
A move above the resistance at $2015 – $2025 will push gold towards the next resistance level at $2065 – $2075.
Silver
Silver pulled back as traders took profits after the strong rebound from February lows.
From the technical point of view, silver remains stuck between the support at $22.25 – $22.50 and the resistance at $23.40 – $23.60.
Platinum
Platinum is moving lower amid a lack of catalysts. RSI remains in the moderate territory, so there is plenty of room to gain additional momentum in case the right catalysts emerge.
If platinum manages to stay above the $900 level, it will move towards the resistance at $925 – $935.
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 and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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