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Gold, Silver, Platinum Forecasts – Gold Pulls Back From Session Highs As Traders React To Tariff News
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Key Points:
- Gold made an attempt to settle above $3100 but lost momentum and pulled back.
- Silver rallied as Trump paused tariffs for non-retaliating countries.
- Platinum moved towards the $915 level.
Gold
Gold pulled back from session highs as Donald Trump announced that tariffs were paused for 90 days for non-retaliating countries.
In case gold pulls back below the $3050 level, it will head towards the support at $2995 – $3005.
Silver
Silver rallied as traders focused on tariff news. Industrial demand is important for silver, so tariff news served as a bullish catalyst for silver.
A move above the $31.00 level will push silver towards the resistance at $31.45 – $31.75.
Platinum
Platinum gained ground as traders bet that demand would increase after Trump’s tariff decision.
In case platinum settles above the $915 level, it will head towards the nearest resistance at $930 – $935.
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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