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Gold, Silver, Platinum Forecasts – Gold Rebounds Amid Rising Demand For Precious Metals
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Key Points:
- Gold rebounded towards the $3350 level.
- Silver moved towards the nearest resistance at $33.00 - $33.20.
- Platinum gained 2% as traders focused on the upcoming trade talks between the U.S. and China.
Gold
Gold rebounds as traders use the recent pullback as an opportunity to increase their long positions.
If gold settles back above the resistance at $3350 – $3360, it will move towards the next resistance level at $3490 – $3500.
Silver
Silver gains ground as traders focus on the strong performance of gold markets. Currently, silver is trying to settle above the resistance level at $33.00 – $33.20.
In case this attempt is successful, silver will move towards the next resistance at $34.40 – $34.60.
Platinum
Platinum tested new highs amid broad rally in precious metals markets. Traders bet on successful trade negotiations between the U.S. and China.
A move above the $1000 level will push platinum towards the resistance level at $1010 – $1015.
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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