Gold, Silver, Platinum Forecasts – Gold Rallies As China Unveils Stimulus Measures

Gold

Gold tested new highs as China’s central bank lowered its reserve requirement ratio to boost the country’s economy.

In case gold manages to settle above the $2650 level, it will head towards $2700. RSI is in the overbought territory, so the risks of a pullback are increasing.

Silver

Silver tests new highs as traders bet that China’s stimulus measures will boost demand for the metal.

If silver settles above the resistance at $31.45 – $31.75, it will move towards the next resistance level, which is located in the $34.00 – $34.25 range.

Platinum

Platinum gains ground amid strong rally in precious metals markets, which was triggered by China’s stimulus measures.

A successful test of the resistance at $975 – $985 will open the way to the test of the next resistance level at $1020 – $1030.

For a look at all of today’s economic events, check out our economic calendar.