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Gold, Silver, Platinum Forecasts – Gold Is Flat Despite Dollar’s Pullback
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Key Points:
- Gold remains stuck below the nearest resistance as traders wait for additional catalysts.
- Silver climbed above $32.50 as gold/silver ratio pulled back below 90.
- Platinum did not manage to settle above the $975 level.
Gold
Gold remains stuck below the resistance level at $2930 – $2940 despite the strong pullback of the U.S. dollar.
In case gold settles back below the $2900 level, it will move towards the support at $2870 – $2880.
Silver
Silver rallied above the $32.50 level as gold/silver ratio declined towards the 89.50 level.
If silver climbs above the resistance at $32.75 – $33.00, it will head towards the next resistance level at $34.60 – $34.85.
Platinum
Platinum is mostly flat in volatile trading. Traders are trying to evaluate the potential changes in demand for platinum amid trade wars.
A move below the $960 level will open the way to the test of the nearest support at $935 – $940.
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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