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Gold, Silver, Platinum Forecasts – Gold Rallies As Iran Attacks Israel
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Key Points:
- Gold moved towards the resistance at $2675 - $2685 as Iran fired missiles at Israel.
- Silver did not manage to settle above the resistance at $31.45 - $31.75.
- Platinum made an attempt to climb above $1000 but lost momentum and pulled back.
Gold
Gold moved back towards historic highs as traders reacted to Iran’s attack on Israel.
A move above the resistance at $2675 – $2685 will push gold towards the $2700 level.
Silver
Silver gained ground as traders focused on rising geopolitical tensions. It should be noted that gold/silver ratio moved above the 84.50 level, which was bearish for silver.
From the technical point of view, silver needs to settle above the resistance at $31.45 – $31.75 to gain sustainable upside momentum.
Platinum
Platinum made an attempt to settle above the $1000 level but lost momentum and pulled back.
If platinum settles below the support at $975 – $985, it will head towards the next support level, which is located in the $935 – $940 range.
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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