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Gold, Silver, Platinum Forecasts – Gold Rebounds As Trump Says He Will Impose 25% Tariffs On The EU
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Key Points:
- Gold settled back above the $2900 level as traders focused on Trump's tariff threats.
- Silver rebounded towards the $32.00 level.
- Platinum failed to settle above the resistance at $980 - $985.
Gold
Gold rebounded from session lows as Donald Trump said that he would impose 25% tariffs on imports from the EU.
From the technical point of view, gold needs to settle above the strong resistance at $2930 – $2940 to gain additional upside momentum.
Silver
Silver received strong support in the $31.45 – $31.75 range and is trying to settle back above the $32.00 level.
In case this attempt is successful, silver will head towards the next resistance, which is located in the $32.75 – $33.00 range.
Platinum
Platinum made an attempt to settle above the $985 level but lost momentum and pulled back towards the 50 MA at $966.
A move below the 50 MA will push platinum towards the nearest support level at $935 – $940.
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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