Gold, Silver, Platinum Forecasts – Gold Rebounds As Traders Stay Bullish

Gold

Gold rebounded as traders used the recent pullback as an opportunity to increase their long positions.

The trend stays bullish as gold has quickly managed to rebound after the pullback.

Silver

Silver is mostly flat as gold/silver ratio climbed above the 81 level. Falling Treasury yields did not provide sufficient support to silver markets.

From the technical point of view, silver needs to settle above the resistance at $34.00 – $34.20 to gain additional momentum.

Platinum

Platinum tested new highs but did not manage to gain momentum despite the major rally in palladium markets. Palladium is up by 9% amid reports indicating that G7 may consider sanctions on Russian palladium.

A move above the $1030 level will push platinum towards the next resistance at $1080 – $1090.

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