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Gold, Silver, Platinum Forecasts – Gold Rebounds Amid Rising Demand For Safe-Haven Assets
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Key Points:
- Gold made an attempt to settle above $2340 as traders reacted to U.S. GDP Growth Rate report.
- Silver settled near the $27.50 level.
- Platinum climbed back above the $900 level.
Gold
Gold rebounds as demand for safe-haven assets is rising after the release of the disappointing U.S. GDP Growth Rate report.
In case gold manages to settle above the $2350 level, it will head towards the nearest resistance, which is located in the $2390 – $2400 range.
Silver
Silver gains ground as traders ignore rising Treasury yields and focus on the solid performance of gold markets. U.S. dollar’s pullback provided additional support to silver markets.
A move above the $27.50 level will open the way to the test of the nearest resistance at $27.75 – $28.00.
Platinum
Platinum gains ground as traders bet on a rebound after the strong pullback.
In case platinum settles above the $910 level, it will head towards the resistance at $925 – $935.
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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