Gold, Silver, Platinum Forecasts – Gold Moves Higher As Treasury Yields Fall

Gold

Gold moved above the resistance at $2675 – $2685 as traders focused on the strong pullback in Treasury yields after the release of U.S. inflation data.

If gold climbs above the $2700 level, it will move towards the next resistance level at $2715 – $2725.

Silver

Silver tested new highs as gold/silver ratio declined below the 88.00 level. Gold/silver ratio continues to move away from recent highs, which is bullish for silver.

In case silver stays above the 50 MA at $30.48, it will head towards the next resistance level at $31.45 – $31.75.

Platinum

Platinum remains under pressure amid demand worries. The strong rebound in palladium markets did not provide support to platinum today.

A successful test of the support at $935 – $945 will open the way to the test of the next support level, which is located in the $885 – $895 range.

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