Gold
Gold pulls back despite Powell’s dovish comments. Fed Chair noted that prices were showing disinflation trend. From a big picture point of view, it looks that gold traders are not ready for big moves ahead of the upcoming U.S. holiday.
Gold needs to settle above the 50 MA at $2337 to have a chance to gain sustainable upside momentum.
Silver
Silver pulled back as traders took some profits off the table after the recent rebound.
The technical picture remains encouraging for the bulls as silver received strong support in the $28.75 – $29.00 range.
Platinum
Platinum rebounds after yesterday’s sell-off. The strong rally in palladium markets provided material support to platinum.
From the technical point of view, platinum remains stuck in a range between the support at $975 – $985 and the resistance at $1010 – $1020.
Gold Price Forecast
Every new Gold analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Gold forecastsFor a look at all of today’s economic events, check out our economic calendar.
