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Gold, Silver, Platinum Forecasts – Gold Is Flat As Traders Wait For Catalysts
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Key Points:
- Gold is stuck near the $3020 level.
- Silver moved lower amid profit-taking.
- Platinum is heading towards the $960 level.
Gold
Gold is flat as traders wait for additional catalysts. U.S. dollar moved higher, but this move did not put pressure on gold markets.
If gold declines below the support at $2995 – $3005, it will move towards the next support level at $2930 – $2940.
Silver
Silver is losing some ground as traders take profits off the table after the strong rebound.
The technical picture remains unchanged as silver needs to climb above the $34.00 level to gain additional momentum.
Platinum
Platinum is moving lower as traders remain worried about demand amid trade wars.
A move below the $960 level will open the way to the test of the support level at $930 – $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, 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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