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Gold, Silver, Platinum Forecasts – Gold Rebounds Despite Rising Treasury Yields
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Key Points:
- Gold moved back above the $2350 level.
- Silver managed to climb above $28.00 despite stronger dollar.
- Platinum made an attempt to settle above the resistance at $975 - $985.
Gold
Gold gains ground despite rising Treasury yields and stronger dollar. Demand for gold stays strong as traders bet that central banks will keep buying gold for reserves.
If gold settles above the nearest resistance at $2350 – $2360, it will head towards the $2400 level.
Silver
Silver climbed back above the $28.00 level as gold/silver ratio remained stuck below 84.
In case silver manages to settle above $28.00, it will move towards the next resistance, which is located in the $28.70 – $28.90 range.
Platinum
Platinum rebounded after yesterday’s pullback. Currently, platinum is trying to settle above the resistance at $975 – $985.
In case this attempt is successful, platinum will head towards the next resistance level, which is located in the $1015 – $1025 range.
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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