Gold, Silver, Platinum Forecasts – Gold Keeps Moving Higher As Dollar Pulls Back

Key Insights

• Gold continued to move higher as traders focused on dovish Fed and weak dollar. 
• Silver rallied as gold/silver ratio declined. 
• Platinum gained strong upside momentum as traders paid attention to the major rally in palladium markets. 

Gold

Gold gained more ground as U.S. dollar remained under strong pressure against a broad basket of currencies.

If gold stays above the $2025 level, it will head towards the next resistance at $2065 – $2075.

Silver

Silver moved higher amid a broad rally in precious metals markets. Gold/silver ratio pulled back below 84.50, providing additional support to silver markets.

If silver climbs above the $24.50 level, it will head towards the next resistance at $25.00 – $25.30.

Platinum

Platinum tested new highs as traders focused on the strong rally in palladium markets, which gained 12%.

From the technical point of view, platinum is moving towards the resistance at $990 – $1000.

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