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Gold, Silver, Platinum Forecasts – Gold Is Losing Ground On Profit-Taking
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Key Points:
- Gold pulled back towards $2380 as traders took profits after the recent rally.
- Silver is trying to settle above the key $30.00 level.
- Platinum declines after an unsuccessful attempt to settle above the $1080 level.
Gold
Gold pulls back as traders takes some profits off the table near the key resistance level at $2390 – $2400.
A move above the $2400 level will open the way to the test of historic highs at $2450.
Silver
Silver is trying to settle above the psychologically important $30.00 level as traders stay bullish after the strong rally.
If silver climbs above the $30.00 level, it will head towards the resistance at $30.90 – $31.20.
Platinum
Platinum is losing some ground as traders take profits off the table after the strong rally.
The nearest resistance level for platinum is located in the $1070 – $1080 range. If platinum moves above the $1080 level, it will head towards the next resistance at $1130 – $1140.
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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