Advertisement
Advertisement
Gold, Silver, Platinum Forecasts – Gold Pulls Back Towards $3300 As Demand For Safe-Haven Assets Declines
By:
Key Points:
- Gold is under pressure as the U.S. reached a trade deal with the UK.
- Silver is flat as gold/silver ratio declined.
- Platinum made an attempt to settle above the $975 level.
Gold
Gold is losing ground as demand for safe-haven assets declined after the U.S. announced a trade deal with the UK.
A move below the $3300 level will push gold towards the next support, which is located in the $3235 – $3245 range.
Silver
Silver is mostly flat as gold/silver ratio pulled back below the 102.00. Traders hope that the U.S. will soon announce trade deals with other nations, boosting industrial demand for silver.
From the technical point of view, silver needs to settle above the resistance at $33.00 – $33.20 to gain sustainable upside momentum in the near term.
Platinum
Platinum gained some ground as traders focused on the strong performance of palladium markets, which were up by 1.3%.
In case platinum manages to settle above the $980 level, it will head towards the next resistance at $1010 – $1020.
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.
Advertisement