Gold, Silver, Platinum Forecasts – Gold Is Flat Ahead Of Fed Decision

Gold

Gold is mostly flat as traders wait for the release of the Fed decision and are not ready for any moves.

The near-term direction of gold markets will depend on whether Powell’s comments are hawkish. If Powell signals that he is thinking about cutting rates, gold may gain upside momentum.

Silver

Silver is also flat as traders are waiting for the key event of the week.

The technical picture remains bullish. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum.

Platinum

Platinum stabilized above the support at $880 – $890 as traders focused on the upcoming Fed decison.

A move below $880 will provide platinum with a chance to gain additional downside momentum.

For a look at all of today’s economic events, check out our economic calendar.