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Gold, Silver, Platinum Forecasts – Gold Gains Some Ground In Quiet Trading
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Key Points:
- Gold settled above the $2030 level as U.S. dollar was flat against a broad basket of currencies.
- Silver continued its attempts to settle below $22.50.
- Platinum rebounded after yesterday's sell-off.
In this article:
Gold
Gold is mostly flat as traders wait for stronger catalysts that could have a material impact on gold markets.
From the technical point of view, it looks that gold managed to settle above the resistance at $2015 – $2025 and will try to gain additional momentum in the upcoming trading sessions.
Silver
Silver is stuck near the support at $22.50 as gold/silver ratio settled above the psychologically important 90 level.
If silver declines below $22.25, it will head towards the next support level at $21.55 – $21.75.
Platinum
Platinum rebounds after yesterday’s sell-off. There is no trend in platinum markets, and traders are moving the price back and forth.
The support at $880 – $890 has proven its strength, which is a bullish sign for platinum. However, platinum needs additional catalysts to gain sustainable 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 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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