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Gold, Silver, Platinum Forecasts – Gold Rebounds After Sell-Off
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Key Points:
- Gold climbed back above the $2900 level.
- Silver moved towards the $33.00 level.
- Platinum tested weekly highs as demand for precious metals increased.
Gold
Gold rebounded after yesterday’s pullback as demand for safe-haven assets increased after Donald Trump imposed additional tariffs on Canada.
A move above the $2940 level will open the way to the test of the psychologically important $3000 level.
Silver
Silver tests resistance at $32.75 – $33.00 as gold/silver ratio declined below the 89.00 level.
If this test is successful, silver will head towards the next resistance at $34.60 – $34.85.
Platinum
Platinum gains ground amid broad rebound in precious metals markets, which is driven by rising demand for safe-haven assets.
A successful test of the resistance at $980 – $985 will push platinum towards the next resistance level at $1015 – $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.
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