Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Gains Some Ground At The Start Of The Week
By:
Key Points:
- Gold settled above the $2650 level as U.S. dollar moved away from weekly highs.
- Silver remained stuck near the $30.50 level as traders waited for catalysts.
- Platinum rebounded towards the $935 level as trader reacted to Industrial Production report from China.
Gold
Gold gained some ground as U.S. dollar moved lower despite the encouraging Composite PMI report.
In case gold stays above the $2650 level, it will move towards the nearest resistance at $2675 – $2685.
Silver
Silver is mostly flat as traders wait for additional catalysts. It looks that traders are cautious ahead of the Fed decision, which will be released on Wednesday.
A move below the $30.00 level will open the way to the test of the support level at $28.75 – $29.00.
Platinum
Platinum rebounded as traders focused on the better-than-expected Industrial Production report from China.
In case platinum settles back above the resistance at $935 – $945, it will move towards the next resistance at $975 – $985.
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.
Advertisement