Gold, Silver, Platinum Forecasts – Gold Rebounds From Multi-Week Lows

Gold

Gold rebounds as traders react to PPI report, which showed that PPI decreased by -0.5% month-over-month in April.

In case gold settles above the resistance level at $3235 – $3245, it will move towards the next resistance at $3350 – $3360.

Silver

Silver climbed back above the $32.50 level as traders focused on the strong rebound in gold markets.

The technical picture remains unchanged as silver is stuck between the support at $31.45 – $31.75 and the resistance at $33.00 – $33.20.

Platinum

Platinum is moving higher as traders focus on U.S. economic data and bet on dovish Fed.

A move above the $990 level will open the way to the test of the resistance at $1010 – $1015.

For a look at all of today’s economic events, check out our economic calendar.