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Gold, Silver, Platinum Forecasts – Gold Pulls Back Despite Falling Treasury Yields
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Key Points:
- Gold pulled back towards the $2300 level.
- Silver rebounded from session lows and settled near $26.50 as gold/silver ratio declined towards 86.50.
- Platinum continued its attempts to settle above the $950 level.
Gold
Gold pulls back as traders continue to evaluate the recent Fed decision and comments from Fed Chair Powell.
In case gold settles below the support at $2295 – $2305, it will move towards the next support level at $2190 – $2200.
Silver
Silver rebounded from session lows as gold/silver ratio pulled back towards the 86.50 level.
If silver climbs back above the $27.00 level, it will head towards the nearest resistance at $27.75 – $28.00.
Platinum
Platinum is mostly flat as traders wait for additional catalysts. U.S. dollar’s pullback and falling Treasury yields provided some support to platinum markets.
A move above the $960 level will open the way to the test of the nearest resistance at $975 – $985.
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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