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Gold, Silver, Platinum Forecasts – Gold Rebounds From Multi-Week Lows
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Key Points:
- Gold attempts to settle back above the $2570 level.
- Silver is trying to climb above $30.50.
- Platinum gains some ground amid rising demand for precious metals.
Gold
Gold managed to rebound from session lows as traders focused on the pullback of the U.S. dollar, which moved away from yearly highs.
If gold climbs above the $2590 level, it will have a chance to gain additional upside momentum.
Silver
Silver gains ground as gold/silver ratio declined below the 84.50 level. RSI is in the moderate territory, and there is enough room to gain additional upside momentum.
If silver settles back above the $30.50 level, it will head towards the nearest resistance at $31.45 – $31.75.
Platinum
Platinum gains some ground amid broad rebound in precious metals markets.
If platinum climbs back above the support at $935 – $945, it will head towards the nearest resistance level, which is located in the $975 – $985 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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