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Gold, Silver, Platinum Forecasts – Gold Gains Ground Despite Strong Dollar
By:
Key Points:
- Gold managed to climb back above the $2630 level.
- Silver pulled back as gold/silver ratio jumped towards 85.00.
- Platinum declined below the $935 level.
In this article:
Gold
Gold managed to gain some ground despite strong U.S. dollar. From a big picture point of view, gold continues to consolidate below the $2650 level.
A move above $2650 will push gold towards the resistance at $2675 – $2685.
Silver
Silver is moving lower as gold/silver ratio climbed towards the 85.00 level.
In case silver settles back below $31.00, it will head towards the $30.00 level. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.
Platinum
Platinum tests new lows as pullback continues amid falling demand for precious metals.
If platinum stays below the $935 level, it will head towards the next support level at $895 – $905.
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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