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Gold, Silver, Platinum Forecasts – Gold Pulls Back At The Start Of The Week
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Key Points:
- Gold did not manage to settle above the $3350 level.
- Silver remained stuck near the $33.50 level as gold/silver ratio pulled back.
- Platinum was flat amid profit-taking.
Gold
Gold did not manage to settle above the resistance level at $3350 – $3360 and pulled back.
If gold climbs above the $3360 level, it will head towards the next resistance at $3490 – $3500.
Silver
Silver continues its attempts to settle above the $33.50 level as gold/silver ratio pulled back below the 100.00 level.
In case silver settles above $33.50, it will head towards the resistance, which is located in the $34.40 – $34.60 range.
Platinum
Platinum is mostly flat as traders take some profits off the table after the strong rally.
A successful test of the resistance at $1090 – $1095 will push platinum towards the next resistance level at $1135 – $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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